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"Suppose a country's real GDP per capita was $9,000 in 1990, and it grew to $18,000 by 2000. What is the annual growth rate of the country's real GDP per capita during this period?"

Respuesta :

anwar96iqbal

Answer:

The Annual Growth Rate of the country's real GDP per capita during these 10 years is 7.18%.

Explanation:

The formula that is used to calculate Annual Growth Rate over a number of years is given below:

                   { [ (New Value / Old Value) ^ (1 / n) ] - 1 } * 100

where

New Value = 18,000

Old Value = 9,000

n = Number of Years: In this case. 2000 - 1990 = 10 years.