Which of the following is the equation for calculating the real per capita gross domestic product (GDP) growth?
economic growth %Δ in real GP – %Δ price level –
%Δ population
economic growth %Δ price level – %Δ
population
economic growth %Δ in nominal GP – %Δ
population
economic growth %Δ in nominal GP – %Δ price level
– %Δ population
economic growth %Δ in nominal GP – %Δ price
level
Homework Answers
Answer
Option 3
economic growth
%Δ in nominal GP – %Δ price level – %Δ population
the equation of economic growth is deducting the price and population change from nominal GDP.
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