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The following table shows values of annual real GDP per capita over time.  Use it to answer the next question. 1810 $1,5001860 $2,1001910 $3,9001960 $18,0002010 $43,600 What was the rate of growth in real GDP per capita between 1810 and 2010?Multiple Choice$43,600$42,1002,807%2,907%

Question

The following table shows values of annual real GDP per capita over time.  Use it to answer the next question. 1810 1,50018601,5001860 2,1001910 3,90019603,9001960 18,0002010 43,600 WhatwastherateofgrowthinrealGDPpercapitabetween1810and2010?MultipleChoice43,600 What was the rate of growth in real GDP per capita between 1810 and 2010?Multiple Choice43,600$42,1002,807%2,907%

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Solution

To calculate the rate of growth in real GDP per capita between 1810 and 2010, you need to follow these steps:

  1. Subtract the initial year's GDP from the final year's GDP. In this case, subtract the GDP in 1810 from the GDP in 2010: 43,600−43,600 - 1,500 = $42,100.

  2. Divide the difference by the initial year's GDP: 42,100/42,100 / 1,500 = 28.07.

  3. Multiply the result by 100 to get the percentage: 28.07 * 100 = 2,807%.

So, the rate of growth in real GDP per capita between 1810 and 2010 was 2,807%.

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Similar Questions

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