Venezuelas real GDP was 57,049 trillion bolivares in 2009 and 56,764 trillion bolivares in 2010. Venezuelas population
Question:
Venezuela’s real GDP was 57,049 trillion bolivares in 2009 and 56,764 trillion bolivares in 2010. Venezuela’s population was 28.6 million in 2009 and 29.2 million in 2010. Calculate
a. The economic growth rate.
b. The growth rate of real GDP per person.
c. The approximate number of years it takes for real GDP per person in Venezuela to double if economic growth returns to its average since 2009 of 3.6 percent a year and is maintained.
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