Suppose an economy's real GDP is $38,000 in year 1 and $41,200 in year 2. What is the growth rate of its real GDP?
(Instructions: Round your answer to two decimal places.)
The growth rate of the economy's real GDP = %
Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?
(Instructions: Round your answer to two decimal places.)
The growth rate of the economy's real GDP per capita = %