# Answer to Question #27034 in Macroeconomics for Derek Smalls

Question #27034

this year real GDP per person in olympus is 45,000 while the year before it was 48,250. What is the growth rate of real GDP per Person

Expert's answer

Income per person, is the mean income

within an economic aggregate such as a country or city. It is calculated by

taking a measure of all sources of income in the aggregate (such as GDP or

Gross national income) and dividing it by the total population.

GDP per capita growth = (GDP2 - GDP1)/GDP1*100% = (45,000 - 48,250)/45,000*100%

= -7.22%,

So, GDP per capita decreased and the growth rate is negative.

this year real GDP per person in olympus is45,000 while the year before it

was 48,250. What is the growth rate of real GDP per Person

within an economic aggregate such as a country or city. It is calculated by

taking a measure of all sources of income in the aggregate (such as GDP or

Gross national income) and dividing it by the total population.

GDP per capita growth = (GDP2 - GDP1)/GDP1*100% = (45,000 - 48,250)/45,000*100%

= -7.22%,

So, GDP per capita decreased and the growth rate is negative.

this year real GDP per person in olympus is45,000 while the year before it

was 48,250. What is the growth rate of real GDP per Person

Need a fast expert's response?

Submit orderand get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

## Comments

## Leave a comment