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Answer on Macroeconomics Question for tony

Question #22897
the rate of growth of real gdp
Expert's answer
The growth rate of real GDP is the percentage change in real GDP from one year to
the next.
Growth rate of GDP = [GDP(2005) - GDP(2004)]/ GDP(2004) × 100

For purposes of evaluating how economic growth can feed into economic development it is often helpful to focus on the growth rate of GDP per
capita—that is, output per person—rather than simply on overall output.
Mathematically, GDP per capita is expressed as:
GDP per capita = GDP / Population

The growth rates of GDP, population, and GDP per capita are related in the following way:
Growth Rate of GDP = Growth Rate of Population + Growth Rate of GDP per capita

or:

Growth Rate of GDP per capita = Growth Rate of GDP – Growth Rate of Population

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