Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1987 to 2005.
Definitions:
Natural Rate
The level at which a certain economic variable (such as unemployment or interest rate) naturally settles, in the absence of external influences.
Congressional Budget Office
A non-partisan federal agency within the legislative branch of the United States government that provides budget and economic information to Congress.
Natural Rate
Often refers to the natural rate of unemployment, which is the level of unemployment consistent with sustainable economic growth, considering factors like market imperfections.
Estimated
An approximate calculation or judgment of the value, number, quantity, or extent of something, based on available data.
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