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Suppose an economy's real GDP is $45,000 in year 1 and $48,500 in year 2. A) What is the growth rate of its real GDP

Suppose an economy's real GDP is $45,000 in year 1 and $48,500 in year 2.

A) What is the growth rate of its real GDP (2 decimal places)?

B) Assume that population is 103 in year 1 and 105 in year 2. What is the growth rate of real

GDP per capita (two decimal places)?

(two decimal places)?

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