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Real-Time Data Analysis Exercise The following table contains data from FRED* on the U.S. population (billions of persons) and real GDP for April of 2023
Real-Time Data Analysis Exercise The following table contains data from FRED* on the U.S. population (billions of persons) and real GDP for April of 2023 and 2018. U.S. Real GDP (billions Nominal GDP Month/Yr Population (billions of (billions of persons) chained dollars) of dollars) April/2018 0.327667595 18,565.7 20,470.2 April/2023 0.336047315 20,386.5 26,798.6 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. A relatively simple method of gauging the change in living standards over time within a country is to compute real GDP per capita. Complete the following table by computing, for each period, the per capita real GDP. (Enter your responses rounded to the nearest dollar.) Real GDP Per Capita Month/Yr (chained dollars) April/2018 56,660 April/2023 60,666 From April, 2018 to April, 2023, real GDP per capita increased at an average annual rate of |%. (Enter your response rounded to two decimal places.)
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