A national statistics office reports the following annual data for an economy.
| Year | Real GDP (£ billion) | Population (million) |
|---|---|---|
| 1 | 192.00 | 15.0 |
| 2 | 205.92 | 15.6 |
Calculate the percentage change in real GDP per capita from Year 1 to Year 2. Show your workings.
Using the data and your answer to part (a), explain what they suggest about average material living standards in this economy.
78 exam-style questions on OCR GCSE Economics 3.1 Economic growth, covering 3.1.1 What is economic growth, 3.1.2 Calculate economic growth using GDP, 3.1.3 Explain how growth is measured, 3.1.4 Analyse GDP data, 3.1.5 Determinants of economic growth, and 3.1.6 Costs and benefits of economic growth. Each one has a worked solution and a mark scheme showing where the marks go.