What is the growth rate of gdp per capita
Question:
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 GDP per capita?
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Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of GDP per capita?
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