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Suppose an economy's real GDP is $50,000 in year 1 and $55,000 in year 2.

What is the growth rate of its GDP? Assume that population was 100 in year 1 and 105 in year 2. What is the growth rate in GDP per capita?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9906354
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