Question

From 2007–2008 nation a saw real gdp increase from $100 billion to $106 billion. the population of nation a also grew from 50 million to 51 million from 2007–2008. the annual growth rate in real gdp per capita was approximately:

Answer 1

The annual growth rate in real GDP per capita from 2007 to 2008 is approximately 0.12%.

Step-by-step explanation:

To find the annual growth rate in real GDP per capita, we need to calculate the increase in GDP and the increase in population and then divide the former by the latter.

The increase in GDP from 2007 to 2008 is $106 billion - $100 billion = $6 billion.

The increase in population from 2007 to 2008 is 51 million - 50 million = 1 million.

The annual growth rate in real GDP per capita is therefore $6 billion / 1 million = $6,000 per capita.

However, we need to convert this to a percentage, so the annual growth rate in real GDP per capita is approximately 0.12%.

Answer 2

Real GDP ( 2007 ) = $100 billion.
Real GDP ( 2007 ) = $106 billion.
The population ( 2007 ) = 50 million.
The population ( 2008 ) = 51 million.
The annual growth of Real GDP = $106 billion - $100 billion =
= $6 billion = $6,000,000,000.
The annual growth of the population:
51 million - 50 million = 1 million = 1,000,000
$6,000,000,000 : 1,000,000 = $6,000
Answer: The annual growth rate in Real GDP per capita is $6,000.