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a. Calculate nominal and real GDP per capita for 2010 and 2019. For 2010: Nominal GDP per capita - $ Real GDP per capita - $ For 2019: Nominal GDP per capita - $ Real GDP per capita -

a. Calculate nominal and real GDP per capita for 2010 and 2019. For 2010: Nominal GDP per capita - $ Real GDP per capita - $ For 2019: Nominal GDP per capita - $ Real GDP per capita -

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
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3 Using the data in the table below related to nominal GDP, real GDP, and total population, answer the questions for the time period 2010-2019: budy Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Nominal GDP (in Millions) $9,817,000 10,128,000 10,469,000 10,960,000 11,685,000 12,422,000 13,178,000 13,808,000 14,291,000 13,939,000 14,524,000 15,518,000 16,163,000 16,768,000 17,393,000 18,037,000 18,954,000 19,543,000 20,612,000 21,433,000 For 2010: Real GDP (in Millions) (2012 Base Year) $13,131,000 13,262,000 13,493,000 13,879,000 14,406,000 14,913,000 15,338,000 15,626,000 % 15,605,000 15,209,000 15,599,000 15,841,000 16,197,000 16,495,000 16,912,000 17,432,000 17,731,000 18,144,000 18,688,000 19,092,000 Instructions: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded to one decimal place. a. Calculate nominal and real GDP per capita for 2010 and 2019. Population (in Millions) % Nominal GDP per capita = $ Real GDP per capita = $ For 2019: Nominal GDP per capita = $ Real GDP per capita = $ b. By what percentage did nominal per capita GDP increase? 282.4 285.5 288.6 291.0 293.7 296.6 299 8 302.0 304 9 307.0 309.4 311.7 314.0 316.2 318.6 320.9 323 1 325.1 327 1 329 1 c. By what percentage did real GDP per capita increase? ▬▬ ▬ Q Search < Prev 6 of 7 Next > W lll
Transcribed Image Text:3 Using the data in the table below related to nominal GDP, real GDP, and total population, answer the questions for the time period 2010-2019: budy Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Nominal GDP (in Millions) $9,817,000 10,128,000 10,469,000 10,960,000 11,685,000 12,422,000 13,178,000 13,808,000 14,291,000 13,939,000 14,524,000 15,518,000 16,163,000 16,768,000 17,393,000 18,037,000 18,954,000 19,543,000 20,612,000 21,433,000 For 2010: Real GDP (in Millions) (2012 Base Year) $13,131,000 13,262,000 13,493,000 13,879,000 14,406,000 14,913,000 15,338,000 15,626,000 % 15,605,000 15,209,000 15,599,000 15,841,000 16,197,000 16,495,000 16,912,000 17,432,000 17,731,000 18,144,000 18,688,000 19,092,000 Instructions: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded to one decimal place. a. Calculate nominal and real GDP per capita for 2010 and 2019. Population (in Millions) % Nominal GDP per capita = $ Real GDP per capita = $ For 2019: Nominal GDP per capita = $ Real GDP per capita = $ b. By what percentage did nominal per capita GDP increase? 282.4 285.5 288.6 291.0 293.7 296.6 299 8 302.0 304 9 307.0 309.4 311.7 314.0 316.2 318.6 320.9 323 1 325.1 327 1 329 1 c. By what percentage did real GDP per capita increase? ▬▬ ▬ Q Search < Prev 6 of 7 Next > W lll
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