Real GDP and Population over Time
Tear
1
2
3
Real GDP
(millions of
dollars)
$5,720
6,496
7,392
Population
(thousands of
people)
220
224
231
Real GDP per
Capita
(dollars)
$26,000
29,000
32,000
Instructions: Round your answers to one decimal place.
a. Using the information in the table, calculate the growth rates in real GDP, population, and the standard of living (real GDP per capita)
between year 1 and year 2.
Real GDP:
Population:
Standard of living:
%
%
%
b. Now, using the information in the table, calculate the growth rates in real GDP, population, and the standard of living between year 2
and year 3.
Real GDP:
%
Population:
%
Standard of living:
%