Canadas real GDP was $1,830 billion in 2017 and $1,866 billion in 2018. Canadas population was 36.7
Question:
Canada’s real GDP was $1,830 billion in 2017 and $1,866 billion in 2018. Canada’s population was 36.7 million in 2017 and 37.1 million in 2018. Calculate:
a. The growth rate of real GDP.
b. The growth rate of real GDP per person.
c. The approximate number of years it takes for real GDP per person in Canada to double if the 2018 growth rate of real GDP and the population growth rate are maintained.
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Sure lets answer this step by step a To calculate the growth rate of real GDP we subtract the initia...View the full answer
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