to calculate the following YEAR 2010 2011 2012 2013 2014 Use the data for the country of New Finlandia…

Question:

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to calculate the following

YEAR

2010

2011

2012

2013

2014

Use the data for the country of New Finlandia in the following table

REAL GDP PER CAPITA

(2005 PRICES)

$41,693

42,799

42,417

43,483

43,240

(HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be

approximated by averaging the growth rates of those years)

a. The percentage increase in real GDP per capita between 2010 and 2014 is % (Enter your response rounded

to two decimal places)

b. The average annual growth rate in real GDP per capita between 2010 and 2014 is % (Enter your response

rounded to two decimal places)

Expert Answer:

Answer rating: 100% (QA)

a Real GDP per Capita in 2010 41693 Real GDP per Capita in 2014 43240 Increase in G

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