Suppose real GDP in 2015 is $15,500 billion, and the forecast for real GDP in 2016 is $15,950 billion, then the forecast of real GDP growth for the year 2016 was

Question

Quizplus · Accepted Answer

To calculate the forecast of real GDP growth for the year 2016, we need to use the formula:
GDP growth rate = (New GDP - Old GDP) / Old GDP x 100
Substituting the given values, we get:
GDP growth rate = (15,950 - 15,500) / 15,500 x 100 = 2.90%
Therefore, the correct answer is B) 2.9%.

Suppose Real GDP in 2015 Is $15,500 Billion, and the Forecast