Question # 3 Finding the real GDP per capita and well-being of a nation. First f
ID: 2429297 • Letter: Q
Question
Question # 3 Finding the real GDP per capita and well-being of a nation. First fill in the calculations in (?) below as we discussed in class
CURRENT DOLLAR & REAL GDP U.S. 1997-2017 IN 2009 DOLLARS
CURRENT
REAL
1997
8,608.5
11,034.9
1998
9,089.2
11,525.9
1999
9,660.6
12,065.9
2000
10,284.8
12,559.7
2001
10,621.8
12,682.2
2002
10,977.5
12,908.8
2003
11,510.7
13,271.1
2004
12,274.9
13,773.5
2005
13,093.7
14,234.2
2006
13,855.9
14,613.8
2007
14,477.6
14,873.7
2008
14,718.6
14,830.4
2009
14,418.7
14,418.7
Real GDP Per Capita(See Data below)
2010
14,964.4
14,783.8
?_____________
2011
15,517.9
15,020.6
?_____________
2012
16,155.3
15,354.6
?_____________
2013
16,691.5
15,612.2
?_____________
2014
17,427.6
16,013.3
?_____________
2015
18,120.7
16,471.5
?_____________
2016
18,624.5
16,716.2
?_____________
2017
19,390.6
17,096.2
?_____________
Source: US Department of Commercehttps://www.bea.gov/national/
Retrieved 07/09/18
YEAR
POPULATION
2017.
325.72 million
2016.
323.41 million
2015.
321.04 million
2014.
318.62 million
1013.
316.23 million
2012.
313.99 million
2011.
311.64 million
2010.
309.34 million
2009.
306.77 million
Write a brief inclusive note on the above data in terms of national well-being as measured by changes in GDP per capita9are they better off? Why?
CURRENT DOLLAR & REAL GDP U.S. 1997-2017 IN 2009 DOLLARS
CURRENT
REAL
1997
8,608.5
11,034.9
1998
9,089.2
11,525.9
1999
9,660.6
12,065.9
2000
10,284.8
12,559.7
2001
10,621.8
12,682.2
2002
10,977.5
12,908.8
2003
11,510.7
13,271.1
2004
12,274.9
13,773.5
2005
13,093.7
14,234.2
2006
13,855.9
14,613.8
2007
14,477.6
14,873.7
2008
14,718.6
14,830.4
2009
14,418.7
14,418.7
Real GDP Per Capita(See Data below)
2010
14,964.4
14,783.8
?_____________
2011
15,517.9
15,020.6
?_____________
2012
16,155.3
15,354.6
?_____________
2013
16,691.5
15,612.2
?_____________
2014
17,427.6
16,013.3
?_____________
2015
18,120.7
16,471.5
?_____________
2016
18,624.5
16,716.2
?_____________
2017
19,390.6
17,096.2
?_____________
Source: US Department of Commercehttps://www.bea.gov/national/
Retrieved 07/09/18
YEAR
POPULATION
2017.
325.72 million
2016.
323.41 million
2015.
321.04 million
2014.
318.62 million
1013.
316.23 million
2012.
313.99 million
2011.
311.64 million
2010.
309.34 million
2009.
306.77 million
Write a brief inclusive note on the above data in terms of national well-being as measured by changes in GDP per capita9are they better off? Why?
Explanation / Answer
Year
REAL GDP in $
Population in number
Real GDP Per Capita. $
2009
14418700000000
306770000
47001.66
2010
14783800000000
309340000
47791.43
2011
15020600000000
311640000
48198.56
2012
15354600000000
313990000
48901.56
2013
15612200000000
316230000
49369.76
2014
16013300000000
318620000
50258.30
2015
16471500000000
321040000
51306.69
2016
16716200000000
323410000
51687.33
2017
17096200000000
325720000
52487.41
The Real GDP which is in billion dollars is converted to dollars and population in million to numbers. Per capita GDP is calculated by dividing Real GDP by population.
Over the years the GDP per capita is increasing which means that the wealth of the people is increasing over the years which reflects about the well being of people.
Year
REAL GDP in $
Population in number
Real GDP Per Capita. $
2009
14418700000000
306770000
47001.66
2010
14783800000000
309340000
47791.43
2011
15020600000000
311640000
48198.56
2012
15354600000000
313990000
48901.56
2013
15612200000000
316230000
49369.76
2014
16013300000000
318620000
50258.30
2015
16471500000000
321040000
51306.69
2016
16716200000000
323410000
51687.33
2017
17096200000000
325720000
52487.41