If real GDP grew by 6 percent and population grew by 2 percent, then real GDP per person grew by approximately ______ percent.

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BlackTom AI · Accepted Answer

To assess how real GDP per person grows, we compare the growth rate of real GDP with the growth rate of the population, since real GDP per person (real GDP per capita) roughly equals real GDP divided by population.

Option 1: 2%. If real GDP grew 6% and population grew 2%, a 2% per-person growth would imply a much smaller increase than the overall gap between GDP growth and population growth. This underestimates the effect of GDP growth relative to population growth and is not consistent with the given numbers.

Option 2: 3%. A 3% per-person growth would mean the population growth of 2% offsets part of GDP growth, leaving a net 3% increase. However, the relationship between the two rates is closer to a simple subtraction when rates are small, i.e., 6% minus 2% equals 4%, so 3% understates the per-person growth.

Option 3: 4%. Real GDP grows by 6% while population grows by 2%. If we think in terms of approximate growth in GDP per person, the additional growth is roughly the difference: 6% − 2% ≈ 4%. This captures the idea that GDP per person rises when the economy grows faster than the population.

Option 4: 8%. An 8% per-person growth would require GDP growth to greatly exceed population growth by 8 percentage points, which contradicts the given figures (GDP growing by 6% while population grows by 2%). This overstates the effect and does not align with the data.

In summary, the per-person growth is driven by the gap between the GDP growth rate and the population growth rate. Since 6% minus 2% equals 4%, the option that aligns with this logic is the one reflecting a 4% increase in real GDP per person.

BU.220.610.51.FA25 M1 Practice Quiz- Requires Respondus LockDown Browser

If real GDP grew by 6 percent and population grew by 2 percent, then real GDP per person grew by approximately ______ percent.

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