Jump to... 6/17/2018 10:00 PM 31.9/50 6/12/2018 01:11 PM B Gradebook Print lCalu
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Jump to... 6/17/2018 10:00 PM 31.9/50 6/12/2018 01:11 PM B Gradebook Print lCalulator Question 9 of 20 Use the table below to answer the questions that enter all answers as numerical values rounded to 3 decimal places, and not as percentages (i.e. 0.1 follow. Define productivity as GDP per worker, and of 10.3%). Year e 1 Year 2 GOP 1001 1237 Population Workers 167 315 139 251 What is the GDP growth rate? What is GDP per capita groth rate? What is the growth rate Number Number 0.236 - 2.06 - 2.27 There is a hirt availabiel divider bar again lo hice the hint Close about us careers privecy policy terms of use contact us helpExplanation / Answer
(1) GDP growth rate = (1237/1001) - 1 = 1.236 - 1 = 0.236
(2) GDP per capita = GDP / Population
Year 1: (1001/167) = 5.9940
Year 2: (1237/315) - 1 = 4.2127
GDP per capita growth rate = (4.2127/5.9940) - 1 = 0.703 - 1 = -0.297
(3) Productivity = GDP / Workers
Year 1: (1001/139) = 7.2014
Year 2: (1237/251) - 1 = 4.9283
Productivity growth rate = (4.9283/7.2014) - 1 = 0.684 - 1 = -0.316
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