Question

The data in the table below are for the country of Eturia. 

a. Calculate the GDP deflator for years 2015,2016, and 2017 and enter the values in the table above. Enter your responses rounded to one decimal place.

b. Calculate real GDP per capita for the three years and enter the values in the table above. Enter your responses rounded to the nearest dollar.

c. Calculate the growth rate of real GDP per capita for years 2016 and 2017 and enter the values in the table above. Enter your responses rounded to one decimal place.

Answer 1

Answer:

		2015	2016	2017
a.	GDP Deflator	105.26	107.65	112.41
b.	Real GDP per capita	$ 25333.33	$ 25961.54	$ 26687.5
c.	Growth rate of real GDP per capita		2.48 %	2.8 %

Calculation:

		2015	2016	2017
a.	GDP Deflator	(400/380)*100 = 105.26	(436/405)*100 = 107.65	(480/427)*100 = 112.41
b.	Real GDP per capita	380 billion / 15 million = 25333.33	405 billion / 15.6 million = 25961.54	427 billion / 16 million = 26687.5
c.	Growth rate of real GDP per capita		25961.54-25333.33 一+ 100 = 2.48 2533333	26687.5-25961.54 + 100 = 2.8 25961.4

Formula used in calculation:

a. GDP Deflator = (Nominal GDP / Real GDP) * 100

b. Real GDP per capita = Real GDP / Population

c. Growth rate of real GDP per capita =

Real GDP per capita in current year – Real GDP per capita in previous year Real GDP per capita in previous year 100

Answer 2

ANSWER :

Particulars I   /   year ->                   2015                 2016                   2017 

                   V

GDP Deflator                             400/380 *100    436/405 *100       480/427 *100

(Nominal / Real *100)                = 105.3              = 107.7                  = 112.4

Real GDP per capita                380*10^3 / 15.   405*10^3/15.6     427*10^3/16

(Real GDP/Population)            = 25333 ($)       = 25962 ($)           = 26688 ($)

Growth rate GDP per capita         -                  629/25333 *100     726/25962 *100          

(Increase / Prev. Year) *100 (%)                          = 2.5 %             = 2.8 %