Use the Data Below to Find the Growth of Income

question 77

Essay

Use the data below to find the growth of income per person (over the entire period,not an annual basis)between the two years listed.
$$\begin{array} { | l | l | l | } \hline \text { Year } & \text { Real GDP } & \text { Papulation } \\\hline 1990 & \$ 915 \text { 600 millian } & 233 \text { million } \\\hline 2010 & \$ 9243 \text { 800 millian } & 293.5 \text { millian } \\\hline\end{array}$$

---

Definitions:

Transitional

Pertaining to or involving change from one state, condition, or phase to another.

Probabilistic

Pertains to the likelihood of occurrences in a random phenomenon and involves the analysis of outcomes utilizing the principles of probability.

Management Inventories

Tools or systems used to assess and catalog the abilities, skills, and potential of managerial staff within an organization.

Markov Models

A statistical model used to predict a system's future behavior based on its current state, often used in decision making and predicting behavior patterns over time.