[Related to Don't Let This Happen To You!] Use the data for the country of New Finlandia in the following table to calculate the following: YEAR 2010 2011 2012 2013 2014 REAL GDP PER CAPITA (2005 PRICES) $41,517 42,994 42,203 43,322 43,277 (HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of those years.) a. The percentage increase in real GDP per capita between 2010 and 2014 is%. (Enter your response rounded to two decimal places.) b. The average annual growth rate in real GDP per capita between 2010 and 2014 is%. (Enter your response rounded to two decimal places.)
[Related to Don't Let This Happen To You!] Use the data for the country of New Finlandia in the following table to calculate the following: YEAR 2010 2011 2012 2013 2014 REAL GDP PER CAPITA (2005 PRICES) $41,517 42,994 42,203 43,322 43,277 (HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of those years.) a. The percentage increase in real GDP per capita between 2010 and 2014 is%. (Enter your response rounded to two decimal places.) b. The average annual growth rate in real GDP per capita between 2010 and 2014 is%. (Enter your response rounded to two decimal places.)
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
Problem 7PA
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