Question

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18. (05.06 MC) The following table shows the values of Real GDP and population for two consecutive years of Country Z: Real GDP (million) Population (million) Year 1 $200 50 Year 2 $300 60 Calculate t

Answer 1

The growth rate of real GDP per capita for Country Z is 25%.

The answer is option ⇒4

Step-by-step explanation:

To calculate the growth rate of real GDP per capita, we need to compare the change in real GDP per capita between Year 1 and Year 2.

1. Calculate the real GDP per capita for Year 1:

- Real GDP per capita = Real GDP / Population

- Real GDP per capita for Year 1 = $200 million / 50 million = $4,000

2. Calculate the real GDP per capita for Year 2:

- Real GDP per capita for Year 2 = $300 million / 60 million = $5,000

3. Calculate the growth rate of real GDP per capita:

- Growth rate = ((Real GDP per capita in Year 2 - Real GDP per capita in Year 1) / Real GDP per capita in Year 1) * 100

- Growth rate = (($5,000 - $4,000) / $4,000) * 100 = (1,000 / 4,000) * 100 = 25%

Therefore, the growth rate of real GDP per capita for Country Z is 25%.

The answer is option ⇒4

Your question is incomplete, but most probably the full question was:

The following table shows the values of Real GDP and population for two consecutive years of Country Z: Real GDP (million) Population (million) Year 1 $200 50 Year 2 $300 60

Calculate the growth rate of real GDP per capita of Country Z. (2 points)

1. 2.5%
2. 10%
3. 15%
4. 25%
5. 30%