# Answer to Question #16637 in Macroeconomics for Brandon

Question #16637

Suppose an economy's real GDP is $14,736 in year 1 and $39,693 in year 2. Also suppose that the same economy's population is 174 in year 1 and 271 in year 2

Calculate the growth rate of the economy's real GDP?

Calculate the growth rate of the economy's real GDP per capita

Calculate the growth rate of the economy's real GDP?

Calculate the growth rate of the economy's real GDP per capita

Expert's answer

GDP growth rate = $39,693/$14,736 = 2.694 = 169.4%,

GDP per capita growth

rate = ($39,693/271)/($14,736/174) = 146.47/84.69 = 1.729 = 72.9%,

GDP per capita growth

rate = ($39,693/271)/($14,736/174) = 146.47/84.69 = 1.729 = 72.9%,

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