Suppose you reside in the country of Camelot. In 2001, the total population is 12,000, the number of workers is 84,000, and r
eal GDP is $5,760,000,000. Now assume in 2002, the total population is 132,000, the number of workers is 86,520, and real GDP is $6,220,800,000.
1 answer:
If the aim is to compare the figures reached in the two periods, the best mechanism is to calculate the growth in percentage(%). In order to do so, the formula showed in the photo has to be applied to each of the 3 variables analyzed, always placing the newest value in the position <em>V Present </em>and the oldest one in <em>V Past. </em>
- Population % growth = ((132,000-120,000)/120,000 )*100= + 10%
- Nº of workers % growth = ((86,250-84,000)/84,000)*100= +2.67%
- GDP % growth =((6,220,800,000-5,760,000,000)5,760,000,000)/*100= + 8 %
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