C                      I                         G                               NX              Price                                                              Yr1                               1000                   156                     560                           52                    4   Yr2                                1300                  159                     600                           52                    5   Yr3                                 2000                  169                    690                           53                   6   Yr4                               2900                   180                     880                           53                    7 Population Yr1        2 Yr2        2 Yr3        3 Yr4        3 Using the information above:  State what real GDP per capita will be for all four years.  (round to the whole number for all calculations and final answers) State what the change in real GDP per capita will be from year 1 to year 2, from year 2 to 3, from year 3 to 4.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 32P: An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it...
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                                         C                      I                         G                               NX              Price 

                                                           

Yr1                               1000                   156                     560                           52                    4

 

Yr2                                1300                  159                     600                           52                    5

 

Yr3                                 2000                  169                    690                           53                   6

 

Yr4                               2900                   180                     880                           53                    7

Population

Yr1        2

Yr2        2

Yr3        3

Yr4        3

Using the information above: 

State what real GDP per capita will be for all four years.  (round to the whole number for all calculations and final answers)

State what the change in real GDP per capita will be from year 1 to year 2, from year 2 to 3, from year 3 to 4. (round to the whole number for all calculations and final answers)

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