1. Suppose an economys real GDP is $30,000 in year 1 and $31,200 in year 2. What...
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1. Suppose an economy’s real GDP is $30,000 in year 1 and
$31,200 in year 2. What is the growth rate of its real GDP?
Assume that population is 100 in year 1 and 102 in year 2.
What is the growth rate of real GDP per capita? LO28.1
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