Question

Consider the​ following: Year Population ​(Millions) Real GDP ​($ Billions) GDP Deflator 2018 121 2019 125 Calculate the percentage change in per capita real GDP between 2018 and​ 2019: nothing​%. ​(Enter your response as a percentage rounded to two decimal​ places.)

Answer 1

Answer: 3.59%

Explanation:

Real GDP per capita is the Real GDP divided by the population of the country.

Real GDP per Capita 2018

= 1,150,000,000/ 10,080,000

= 114.0873

= $114.0873

Real GDP per Capita 2019

= 1,430,000,000/ 12,100,000

= $118.1818

Percentage Change

= $\frac{118.1818 - 114.0873}{114.0873}$

= 3.59%