Table 22-3 -Refer to Table 22-3

question 87

Essay

Table 22-3
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Real GDP per Capita } \\\text { (2009 prices) }\end{array} & \begin{array} { c } \text { Growth Rate in Real } \\\text { GDP per Capita }\end{array} \\\hline 2013 & \$ 28,000 & \\\hline 2014 & 29,000 & \\\hline 2015 & 30,000 & \\\hline 2016 & 31,000 & \\\hline\end{array}$$
-Refer to Table 22-3.Use the table above to calculate the annual growth rate in GDP.Also calculate the total percentage change in the growth from 2013 through 2016.Explain the difference between the average annual growth rate in real per capita GDP from 2013 through 2016 and the total percentage change in growth from 2013 and 2016.

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Definitions:

Journalize

The act of recording transactions in the accounting journals as part of the bookkeeping process.

Terms 2/10, N/30

Payment terms indicating a 2% discount if paid within 10 days, otherwise the net amount (total invoice) is due within 30 days.

Debit Memorandum

A document issued by a buyer to a seller indicating a debit made to the seller's account, often due to returned goods or errors in the invoice.