Question
Asked Feb 22, 2019
116 views

Year

Nominal GDP

Price Level

Population

2011

$3,000

$100

5

2014

$8,000

$200

10

 

 

 

35.

(Table: Per Capita GDP) Examine the table Per Capita GDP. If 2011 is the base year, per capita real GDP in 2011 is:

 

A)

$300

 

B)

$600.

 

C)

$30.

 

D)

$400.

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Expert Answer

Step 1

Real GDP:

2011 Real GDP can be calculated as follows:

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Step 2

Real GDP per capita for 2011:

Real GDP per capita for 20...

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