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Assume that from 2020 to 2021, Panem's GDP grows by 10.00% and that the population of Panem grows from 200 ThereforePanem's per capita GDP growth is % round your answers to two decimal places)

Answers

Answer 1

Panem's per capita GDP growth from 2020 to 2021 is approximately 2.80%

How to solve for the grwoth in GDP

Based on the information provided, let's calculate Panem's per capita GDP growth for the given years:

Part 1:

In 2020, Panem's GDP is given as $1,070,000.

Part 2:

Assuming Panem's GDP grows by 10.00% from 2020 to 2021, we can calculate the GDP for 2021 as follows:

GDP_2021 = GDP_2020 + (GDP_2020 * Growth_rate)

= $1,070,000 + ($1,070,000 * 0.10)

= $1,070,000 + $107,000

= $1,177,000

The population of Panem in 2020 is given as 200, and it grows to 214 in 2021.

Now, we can calculate the per capita GDP for both years:

Per Capita GDP_2020

= GDP_2020 / Population_2020

= $1,070,000 / 200

= $5,350

Per Capita GDP_2021 = GDP_2021 / Population_2021

= $1,177,000 / 214

= $5,500

To calculate the per capita GDP growth, we can use the following formula:

Per Capita GDP Growth = ((Per Capita GDP_2021 - Per Capita GDP_2020) / Per Capita GDP_2020) * 100

Per Capita GDP Growth = (($5,500 - $5,350) / $5,350) * 100

                     = ($150 / $5,350) * 100

                     = 0.02797 * 100

                     ≈ 2.80%

Therefore, Panem's per capita GDP growth from 2020 to 2021 is approximately 2.80% (rounded to two decimal places).

Read more on GDP growth here:https://brainly.com/question/1690575

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Question

Part 1 (1 point) See Hint Peeta works for the Panem Bureau of Economic Analysis. Panem produces three goods: porridge and clubs, as well as oats, which is used to make porridge. The table below records the quantities and market prices of each good produced in 2020. Good produced Quantity Market price (in dollars) porridge 5,000.00 bowls 9.00 oats 1,250.00 bushels 2 clubs 700.00 clubs 85.00 Assuming Panem does not produce anything else in 2020, GDP is equal to $ 1070000 Part 2 (1 point) See Hint Assume that from 2020 to 2021, Panem's GDP grows by 10.00% and that the population of Panem grows from 200 to 214.00. Therefore, Panem's per capita GDP growth is 1.03 % (round your answers to two decimal places).

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