Suppose an economy's real GDP is $42,000 in year 1 and $43,200 in year 2. What is the growth rate of its real GDP?
Instructions: Round your answer to two decimal places.
The growth rate of the economy's 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?
Instructions: Round your answer to two decimal places.
The growth rate of the economy's real GDP per capita = ____%