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Suppose an economy’s real GDP is $50,000 in year 1 and $51,200 in year 2. Instructions:...

Suppose an economy’s real GDP is $50,000 in year 1 and $51,200 in year 2. Instructions: Round your answers to 2 decimal places. a. What is the growth rate of its real GDP? percent. b. Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? percent.

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