The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided.

-Refer to the above table.Assuming that 2016 is the base year,by what percentage did real GDP grow between 2016 and 2017?
A) 2.1 percent
B) 2.6 percent
C) 3.1 percent
D) 3.6 percent

Question

The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided.
 
-Refer to the above table.Assuming that 2016 is the base year,by what percentage did real GDP grow between 2016 and 2017?
A) 2.1 percent 
B) 2.6 percent 
C) 3.1 percent 
D) 3.6 percent

Quizplus · Accepted Answer

To calculate the real GDP growth rate between 2016 and 2017, we use the formula: [(Real GDP in 2017 - Real GDP in 2016) / Real GDP in 2016] * 100. Since 2016 is the base year, the real GDP growth rate directly reflects the percentage increase from 2016 to 2017 without needing to adjust for inflation. Given the information, the correct calculation leads to a 3.1 percent growth rate, making option C the correct answer.

The Country Described in the Table Below Produces and Consumes