Question
Explain to me how to calculate average annual growth rate please? In 1960Q3, real GDP per capital was $17,223. In 2017Q3, real GDP was per
Explain to me how to calculate average annual growth rate please?
In 1960Q3, real GDP per capital was $17,223. In 2017Q3, real GDP was per capita $52,605. What was the average annual growth rate over this period?
A 1.93%
B 3.6%
C 5.3%
D 1.97%
Step by Step Solution
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Step: 1
Correct option is B 36 From quarter 3 of 1960 to quarter 3 of 2017 there are 57 ...
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Step: 2
Step: 3
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Macroeconomics
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
3rd Canadian edition
1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054
