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    1. Answer the following question based on the following info.
    Alta Zorn Alta Zorn
    Year (real GDP) (real GDP) (population) (population)

    1 $2.000 $150,000 200 500
    2 $2,100 $152,000 202 505
    3 $2,200 $154,000 210 508

    Per capita GDP was about :

    A. $105 in year 3 in Alta
    b. $303 in year 3 in Zorn
    c. $ 200 in year 1 in Zorn
    d. $ 5 in year 2 in Alta

    2. Answer the following question based on the following information:

    Nominal Price
    Year GDP index

    1 $550 140
    2 $560 135
    3 $576 120
    4 $586 117
    5 $604 108

    The economy above has experienced a:

    a. a decline nominal GDP
    b. a rising price level
    c. a declining real GDP
    d. deflation

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    Solution Preview

    Hello. I hope this helps.

    (1) To determine per capita GDP, simply divide the GDP by the population for that given year (GDP/POP). For example, Alta's per capita GDP for year 3 (choice "a") would be 2200/210 (where 2200 is the GDP and 210 is the population. This equals a per capita GDP of 10.4 (so, you know choice ...

    Solution Summary

    This solution determines per capita GDP.

    $2.49

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