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The Economy Tomorrow Suppose a country’s GDP is $10 billion and the population is 2 million this year.
a. Calculate GDP per capita for this year. $ 5000 (correct answer)
b. Calculate GDP per capita for next year if the population grows by 5 percent and there is no change in output. $
c. Calculate GDP per capita for next year if the population grows by 1 percent and output grows by 3 percent

Respuesta :

GDP per capita for this year is $5000

GDP per capita for next year  is $4760

GDP per capita for next year is $5100

What is the GDP per capita?

GDP per capita is the gross domestic product of a country divided by the total population of that country.

GDP per capita = GDP / population

GDP per capita for this year = $10 billion / 2 million = $5000

GDP per capita for next year  = $10 billion / ( 2 x 1.05) = $4760

GDP per capita for next year = (10 billion x 1.03) / ( 2 x 1.01) = $5100

To learn more about GDP, please check: https://brainly.com/question/15225458

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