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i) Given the information, Calculate the Island's real GDP in 2021 . (ii) The real GDP in 2020 was $29,000 . Using the real GDP

i) Given the information, Calculate the Island's real GDP in 2021.

(ii) The real GDP in 2020 was $29,000. Using the real GDP in 2021 you calculated above in (i), Calculate the Island's real GDP growth rate between 2020 and 2021 and explain what it means.

(iii) The population of the Island was 37 people in 2020 and increased to 42 people in 2021. Calculate the real GDP per person in 2020 and 2021, and then the growth rate of real GDP per person between 2020 and 2021. From your answers in (ii) and (iii), what can you say about the economic wellbeing of individual person in 2021 as compared to that of 2020?

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