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The following table summarizes Bureau of Economic Analysis data on NGDP and RGDP from 2010 - 2016. Data are in billions of dollars. Year NGDP

The following table summarizes Bureau of Economic Analysis data on NGDP and RGDP from 2010 - 2016. Data are in billions of dollars.

Year

NGDP

RGDP

2010

14,964.40

14,783.80

2011

15,517.90

15,020.60

2012

16,155.30

15,354.60

2013

16,663.20

15,583.30

2014

17,348.10

15,961.70

2015

17,942.90

16,345.00

The following table summarizes U.S. Census Bureau data on population estimates from 2010 - 2016.

2010

2011

2012

2013

2014

2015

2016

309,348,193

311,663,358

313,998,379

316,204,908

318,563,456

320,896,618

323,127,513

What was the growth rate of RGDP from 2010 to 2011?

What was the population growth rate from 2010 to 2011?

Using the approximation formula calculate the annual growth rate of the RGDP per person in 2011.

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