Use the table below to answer the questions that follow. Define productivity as GDP per worker,...
Use the table below to answer the questions that follow. Define productivity as GDP per worker, and please enter all answers as numerical values rounded to 3 decimal places, and not as percentages (i.e. 0.103 instead of 10.3%).
| GDP | Population | Workers | |
| Year = 1 | 1027 | 155 | 129 |
| Year = 2 | 1247 | 279 | 233 |
1) What is the GDP growth rate?
2) What is GDP per capita growth rate?
3) What is the productivity growth rate?
Homework Answers
GDP growth rate = Increase in value / Original value = (1247 - 1027)/1027 = 0.214
GDP per capita = GDP / Population. GDP per capita growth rate = (1247/279 - 1027/155)/(1027/155) = -0.325
Productivity = GDP/ workers. Productivity growth rate = (1247/233 - 1027/129)/(1027/129) = -0.328
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Use the table below to answer the questions that follow. Define
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The U.S. GDP in 2008 was $14,291.5 billion, and the previous year the GDP was $14, 028.7 billion. What was the rate of growth in GDP in 2008? O $283 billion 0 1.84% О 7.02% О 1.87% $14, 160.1 billion Use the table to answer the questions. Define productivity as GDP per worker, and please enter all answers as numerical values rounded to 3 decimal places, and not as percentages (e.g., 0.103 instead of 10.3%). GDP Population Workers...
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