Question

Defining per capita GDP in 2016 as y₂₀₁₆ and per capita GDP in 2015 as y₂₀₁₅, the growth rate of per capita GDP, , from 2015 to 2016 is given by:

Answer 1

Answer: the formula of growth rate of per capita GDP = (per capita GDP of pervious year – per capita GDP of current year)/ per capita GDP of previous year *100

Here previous year GDP = y2015

Current year GDP is = y2016

So the growth rate of per capita GDP from 2015 to 2016 is given by = (y2015 – y2016) / y2015 *100

so to calculate per capita growth rate of GDP we will divide the difference of GDP per capita of 2015 and 2016 by the GDP per capita of 2015 and then multiply it by 100