Defining per capita GDP in 2003 as
and per capita GDP in 2004 as
,the growth rate of per capita GDP,
,from 2003 to 2004 is given by
.

Question

Defining per capita GDP in 2003 as  
and per capita GDP in 2004 as  
,the growth rate of per capita GDP,  
,from 2003 to 2004 is given by  
.

Quizplus · Accepted Answer

The growth rate of per capita GDP from 2003 to 2004 is (per capita GDP in 2004 - per capita GDP in 2003)/per capita GDP in 2003. Therefore, the correct formula should be (11ea895d_4d3d_2c9b_8397_a34cdb9e26f6_TB4305_11 - 11ea895d_4d3d_058a_8397_e574a2db7bad_TB4305_11)/11ea895d_4d3d_058a_8397_e574a2db7bad_TB4305_11, which is not equal to 11ea895d_4d3d_2c9c_8397_07ce34813f62_TB4305_11. Therefore, the statement is false.

Defining Per Capita GDP in 2003 as