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If a nation doubles its real GDP per capita in 17.5 years, what is its growth rate of real GDP per capita?

Answer

The growth rate of real GDP per capita for a nation that doubles its real GDP per capita in 17.5 years is approximately 4.0%. To calculate this growth rate, divide the total change in real GDP per capita by the number of years (17.5) and then multiply by 100 to express the result as a percentage.

Calculations

To calculate the growth rate of real GDP per capita, divide the total change in real GDP per capita (2x) by the number of years (17.5) and then multiply by 100 to express the result as a percentage. This calculation yields a growth rate of 4.0% (2÷17.5 x 100 = 4.0%).

Examples of Growth Rates

The growth rate of real GDP per capita can vary significantly between nations; some nations may experience significant growth while others may experience slow or negative growth. For example, China experienced an average growth rate of 10.7% between 1991 and 2018, while the United Kingdom experienced an average growth rate of 1.6% during the same period.

Implications

The growth rate of real GDP per capita is an important metric for assessing the economic health of a nation. Nations with higher growth rates typically experience higher levels of economic activity, while nations with lower growth rates typically experience slower economic growth.

Related Questions

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