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() can help alleviate poverty, but it does not mean the country is better off as a whole, since income may not be distributed ().
Sustained Economic Growth, Equitably
Calculating the growth rate of real GDP uses the following formula:
(Year 2 GDP - Year 1 GDP)/(Year 1 GDP) * 100
Calculating population growth rate uses the following formula:
(Year 2 population - Year 1 Population) / (Year 1 Population) * 100
Growth rate of GDP per person(per capita) is calculated as following:
Growth Rate Of Real GDP - Population Growth Rate
How to calculate a repeated increase of percentage
Initial Value * (1 + percentageNumber Of Periods )
The rule of () allows us to figure out what growth rate will double real GDP per person in a set amount of years using the following formula:
70, 70 / Years(periods)
