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| Canada’s real GDP was $840 billion in 1998 and $880 billion in 1999. Canada’s population growth rate in 1999 was 0.8 percent. Calculate: a. Canada’s economic growth rate in 1999. b. The growth rate of real GDP per person in Canada in 1999. c. The approximate number of years it takes for real GDP per person in Canada to double if the 1999 economic growth rate and population growth rate are maintained. d. The approximate number of years it takes for real GDP per person in Canada to double if the economic growth rate rises to 6 percent a year but the population growth rate remains the same as it was in 1999. |
