(Table: Per Capita GDP) Use Table: Per Capita GDP. The growth rate of per capita nominal GDP was: $$\begin{array} { | l | l | l | l | }
\hline \text { Year } & \text { Nominal GDP } & \text { Price Level } & \text { Population } \
\hline \mathbf { 2 0 1 6 } & \$ 3,000 & 100 & 5 \
\hline \mathbf { 2 0 1 9 } & 8,000 & 200 & 10 \
\hline
\end{array}$$
A)10%.
B)10%
C)20%.
D)20%
E)25%.
F)25%
G)33%.
H)33%

Question

(Table: Per Capita GDP) Use Table: Per Capita GDP. The growth rate of per capita nominal GDP was: $$\begin{array} { | l | l | l | l | } 
\hline \text { Year } & \text { Nominal GDP } & \text { Price Level } & \text { Population } \
\hline \mathbf { 2 0 1 6 } & \$ 3,000 & 100 & 5 \
\hline \mathbf { 2 0 1 9 } & 8,000 & 200 & 10 \
\hline
\end{array}$$
A)10%.
B)10%
C)20%.
D)20%
E)25%.
F)25%
G)33%.
H)33%

Quizplus · Accepted Answer

The growth rate of per capita nominal GDP is calculated as the percentage change in per capita nominal GDP from one year to the next. In this case, the per capita nominal GDP in 2016 was $3,000 and the per capita nominal GDP in 2019 was $8,000. Therefore, the growth rate of per capita nominal GDP from 2016 to 2019 was (8,000 - 3,000) / 3,000 * 100 = 33%.

(Table: Per Capita GDP) Use Table: Per Capita GDP A)10% B)10% C)20

(Table: Per Capita GDP) Use Table: Per Capita GDP A)10%
B)10%
C)20