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.......... 2. The following information is given to you about an economy: Year Real GDP Population Real GDP per Person 2016 15,000 billion 300 million

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2. The following information is given to you about an economy: Year Real GDP Population Real GDP per Person 2016 15,000 billion 300 million 2017 15,600 billion 309 million (a) Calculate the real GDP (output) per person for the two years. (b) What is this economy's growth rate of output per person? (c) How is the standard of living measured? How much did the economy's standard of living increase from 2016 to 2017

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