2. 1. Suppose the real GDP and the population of an economy in three different years were those shown in the following table.RealYear Population,PerGDP,billions capitarealmillionofGDPdollars1 30$ 9$3002 60243 9045 How large would the real per capita GDP of the economy be in each of the other three years? Enter your answers in the table2. The table below shows the quantity of labor (measured in hours) and the productivity of labor (measured in real GDP per hour) in a hypothetical economy in three different years.Quantity ProductivityYearRealof laborof laborGDP11000 $1002$2 1000 10531100 1051.Compute the economy's real GDP in each of the three years and enter them in the table%24

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2. 1. Suppose the real GDP and the population of an economy in three different years were those shown in the following table. Real Year Population, Per GDP, million capita billions real of GDP dollars 1 30 $9 $300 2 60 24 3 90 45 | |

2. 1. Suppose the real GDP and the population of an economy in three different years were those shown in the following table. Real Year Population, Per GDP, million capita billions real of GDP dollars 1 30 $9 $300 2 60 24 3 90 45 | |

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 32P: An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it...

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