The table below shows total output for an economy over 3 years. * millions of dollars ** real GDP measured in millions of 2010 dollars
TABLE 20-7
Refer to Table 20-7.The growth rate of real output from 2017 to 2018 is

Question

The table below shows total output for an economy over 3 years.  * millions of dollars ** real GDP measured in millions of 2010 dollars
TABLE 20-7
Refer to Table 20-7.The growth rate of real output from 2017 to 2018 is

Quizplus · Accepted Answer

To calculate the growth rate of real output from 2017 to 2018, we use the formula:
Growth rate = (New value - Old value) / Old value x 100%
Using the table, we can plug in the values:
Growth rate = (18,900 - 18,275) / 18,275 x 100%
Growth rate = 3.41%
Therefore, the growth rate of real output from 2017 to 2018 is 3.41%. The correct answer is D.

The Table Below Shows Total Output for an Economy Over