Question

According to the data in the table below Year Real GDP (trillions of 2009 dollars) Population...

According to the data in the table below

Year

Real GDP

(trillions of 2009 dollars)

Population

2009

7.00

100.0

2010

7.50

105.0

2011

8.25

110.0

Question 33 options:

real GDP per person was exactly $0.07 trillion each year

real GDP grew exactly 10.0% each year.

the population grew exactly 5.0% each year.

All the above.

None of the above.

Homework Answers

Answer #1

Answer
Option    4
None of the above.
===
real GDP per person =real GDP/population
real GDP per person in 2009=7/100=0.07 trillion
real GDP per person in 2010=7.5/105=0.0714285714 trillion
the real GDP per person increases and it is not exactly same
===

real GDP growth rate =((current year real GDP-last real GDP)/last real GDP)*100
real GDP growth rate in 2010=((7.5-7)/7)*100
=7.14285714
=7.14%
the real GDP does not grow at a rate of 10%
===
Population grwth in year 2011=((110-105)/105)*100
=4.76190476
=4.7%
it is not 5%

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