If real GDP grew by 6 percent and population grew by 2 percent, then real GDP per person grew by approximately ______ percent.

Business

1 answer:

Novay_Z [31]3 years ago

3 0

Answer:

Explanation:

Real GDP per person is a measure of the economic wellbeing of the populace of a country.

Real GDP per person = Real GDP / population

6% / 2% = 3%

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

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