Use the data on U.S. real GDP below to compute real GDP per person for each year. Then these numbers to compute the percentage increase in real GDP per person from 1987 to 20 Year 1987 Real GDP (2000 prices) $6,435,000 million Population 243 million 2005 $11,092,000 million 296.6 million

Use the data on U.S. real GDP below to compute real GDP per person for each year. Then these numbers to compute the percentage increase in real GDP per person from 1987 to 20 Year 1987 Real GDP (2000 prices) $6,435,000 million Population 243 million 2005 $11,092,000 million 296.6 million

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 3SCQ: Using data from Table 19.5 how much of the nominal GDP growth from 1980 to 1990 was real GDP and how...

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Question

1. Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use
these numbers to compute the percentage increase in real GDP per person from 1987 to 2005.
Real GDP (2000 prices)
Year
1987
Population
243 million
$6,435,000 million
2005
$11,092,000 million
296.6 million

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