In 2015, real GDP was SAR 12,247 billion. In 2018, it was SAR13,206 billion. During the same period, the Saudi population rose from 22.9 million to 25.4 million. a. Calculate real GDP per capita in 2015 and 2018. By what percentage did output per person grow over this period? b. Suppose that real

In 2015, real GDP was SAR 12,247 billion. In 2018, it was SAR13,206 billion. During the same period, the Saudi population rose from 22.9 million to 25.4 million. a. Calculate real GDP per capita in 2015 and 2018. By what percentage did output per person grow over this period? b. Suppose that real

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 2P

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In 2015, real GDP was SAR 12,247 billion. In 2018, it
was SAR13,206 billion. During the same period,
the Saudi population rose from 22.9 million to 25.4
million. a. Calculate real GDP per capita in 2015
and 2018. By what percentage did output per
person grow over this period? b. Suppose that real
GDP grown by 3% each year from 2015 to 21018,
what would real GDP have been in 2018?

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