Question

Consider Figure 9-7, and suppose that we round the rate of growth of per capita real GDP experienced in the European Union between 1981 and 1990 to the nearest full percentage point. Based on the information in Table 9-3, by what percentage would per capita real GDP has increased between 1990 and 2020 if the economic growth rate will have remained at this rounded level?

Short answer

between$1990$and$2020$the per capita real GDP has increased by$5.74\%$.

Step-by-step solution

introduction

Per capital Real GDP implies the genuine GDP for every unit of the populace.

explanation

Given,

If the economic growth rate will have remained at this rounded level,

growth per capita real GDP is $6\%$between years $1981-1990$

From the table,

For time period = $30$years at $6\%$

The per capita real GDP has increased by$5\%$