# Finding real GDP

Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1987 to 2005.

Year Real GDP (2000 prices) Population

1987 $6,435,000 million 243 million

2005 $11,092,000 million 296.6 million

https://brainmass.com/economics/macroeconomics/finding-real-gdp-530054

#### Solution Preview

Computation:

on Real GDP per person

Real GDP for 1987 = Real GDP in million $ in 1987 ÷ Population in million in 1987

Real GDP for 1987 = 6,435,000 million ÷ 243 million

Real GDP for 1987 = $26,481.48 million

Real GDP for 2005 = Real GDP in million $ in 2005 ÷ Population in ...

#### Solution Summary

This solution computes for the Real GDP per person and a percentage increase in real GDP per person from 1987 to 2005. The spreadsheet file is attached as a computation guide.