please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly 12) If the average annual growth rate in real Gross Domestic Product (GDP) for a nation during the last decade was 4percent per year and the average annual population growth rate was 3 percent per year during the same period, then theaverage annual growth rate of per capita GDP was 12)A) 1 percent.B) 7 percent. C) 0 percent. D) -1 percent.

Per capita GDP, or gross domestic product per capita, is a measure of the average economic output…

Answered: 12) If the average annual growth rate…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 4P

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