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Question
If an economy's growth rate of real GDP is 3 percent per year and the growth rate of the population is 2.5 percent per year, the growth rate of real GDP per person isA) 3 + 2.5 = 5.5 percent per year.
B) [(3 - 2.5) 2.5] 100 = 20 percent per year.
C) [(2.5 - 3) 3] 100 = 16.6 percent per year.
D) 3 - 2.5 = 0.5 percent per year.
E) 2.5 - 3 = -0.5 percent per year.
Answer
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