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If per capita GDP in 2018 was $900, in 2019 was $1,000, and in 2020 was $1,200, the growth rate of per capita GDP between 2018 and 2020 wasQuestion 10AnswerSelect one:a.about 33 percent.b.about 133 percent.c.about 11 percent.d.20 percent.e.25 percent.

Question

If per capita GDP in 2018 was 900,in2019was900, in 2019 was 1,000, and in 2020 was $1,200, the growth rate of per capita GDP between 2018 and 2020 wasQuestion 10AnswerSelect one:a.about 33 percent.b.about 133 percent.c.about 11 percent.d.20 percent.e.25 percent.

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Solution

The growth rate of per capita GDP from 2018 to 2020 can be calculated as follows:

  1. First, find the difference in GDP between 2020 and 2018. This is 1,2001,200 - 900 = $300.

  2. Next, divide this difference by the GDP in 2018 to find the growth rate. This is 300/300 / 900 = 0.3333.

  3. Finally, multiply this number by 100 to express it as a percentage. This is 0.3333 * 100 = 33.33%.

So, the growth rate of per capita GDP between 2018 and 2020 was about 33 percent. Therefore, the answer is a. about 33 percent.

This problem has been solved

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