If a Nation's Population Grows at 2 Percent and Its

question 223

Essay

If a nation's population grows at 2 percent and its real GDP grows at 4 percent,what is the growth rate of real GDP per person?

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Definitions:

Net Income

The total profit remaining after all expenses, taxes, and deductions have been subtracted from total revenues.

Owners' Equity

The residual interest in the assets of a company after deducting its liabilities, representing the ownership's share of the company assets.

Percentage Increase

A measure of how much a quantity has grown, typically expressed as a proportion of the starting value.

Balance Sheet

The financial statement of what is owned (assets), what is owed (liabilities), and the difference between the two (net worth) on a specific date.