Calculation of per capita GDP, population and GDP.
a) Suppose the US population is currently 303.8 million people and the population of China is 1.33 billion. If US GDP is $13,850 billion and China\'s GDP is $6,990 billion, what is the per capita GDP in each country? (Both GDP figures are in terms of purchasing power parity.)
b) If the US population is growing at .88% per year, while GDP is growing at 2.5% per year, and if these growth rates constant for the next five yrs, illustrate what will be the population and GDP levels in five years? Please show your work.