Question 1

Real GDP was 806 dollars in year 2018 and 1,057 dollars in year 2019. Real GDP growth rate from year 2018 to 2019 is ___________ percent.

(e.g. if your answer is 10.89%, write 10.89)

Question 2

Real GDP in Hula country was 959 in year 2007 and 905 in year 2019. Population changed from 110 in 2007 to 120 in 2019. Follow the steps below carefully.

1. Calculate Real GDP per capita in year 2007 is ( step 1 answer )

2. Calculate Real GDP per capita in year 2019 is ( step 2 answer )

3. ( step 2 answer ) changed by ______________ percent from ( step 1 answer ).

Fill in the step 3 blank.

Question 3

If the economy's real GDP doubles in 21 years, then its average annual rate of growth rate is approximately ____________ percent.

Question 4

If real GDP is 8,076 in an economy and aggregate worker-hours are 836, the labour productivity in this economy is _______________.

Question 5

Year	Nominal GDP	Price index	Population
2018	996	90	50
2019	898	96	62
2020	1,123	101	119

Refer to the above economy. Real GDP per capita in year 2019 is _________________.

Question 6

Year	Nominal GDP	Price index	Population
2018	954	80	59
2019	820	85	71
2020	1,008	104	99

Refer to the above economy and follow the steps below carefully.

1. Real GDP per capita in year 2018 is ( answer step 1 ).

2. Real GDP per capita in year 2020 is ( answer step 2 ).

3. ( answer step 2 ) changed by _________________ percent from ( answer step 1 ).

Fill in the blank in step 3. Answers could be negative.

Question 7

In Coconut Island, real GDP increased by 8 percent in year 2020 while worker-hours decreased by 5 percent. Then, labour productivity must have increased by ___________ percent.

Question 8

In Papaya Island, real GDP grew by 7 percent from year 2019 to 2020. Also, its population grew by 2 percent over the same time period. Then, real GDP per capita in Papaya Island approximately grew by _____________ percent.

Question 9

Year	Units of output	Price per unit	Population
2000	969	10	83
2010	807	12	97
2020	1,054	16	105

Refer to the above economy that produces only one good. If year 2010 is set as the base year, real GDP per capita in year 2020 is ____________.

Question 10

Year	Units of output	Price per unit	Population
2000	889	9	98
2010	722	9	116
2020	1,108	13	98

Refer to the above economy that produces only one good and year 2010 is set as the base year. Follow the steps below carefully.

1. Real GDP per capita in year 2000 is ( answer step 1 )

2. Real GDP per capita in year 2020 is ( answer step 2 )

3. ( answer step 2 ) changed by ____________ percent from ( answer step 1 )

Fill in the blank in step 3.