Real GDP per capita increases by 9% in the first year and by 5% in the second. After 2 years, what is the total percent increase in real GDP per capita? Round to two decimal place and do not enter the % sign. If your answer is 6.145%, enter 6.15. If appropriate, remember to enter the negative sign. Hint: If it makes life easier, assume initial real GDP per capita is 100.

Real GDP per capita increases by 9% in the first year and by 5% in the second. After 2 years, what is the total percent increase in real GDP per capita? Round to two decimal place and do not enter the % sign. If your answer is 6.145%, enter 6.15. If appropriate, remember to enter the negative sign. Hint: If it makes life easier, assume initial real GDP per capita is 100.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 8MC

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