If real GDP grows to $9.5 trillion in 2014 from $9 trillion in 2013, the growth rate for real GDP is ________.

Question

Quizplus · Accepted Answer

The growth rate for real GDP is calculated as the percentage change in real GDP from one year to the next. In this case, real GDP grew from $9 trillion in 2013 to $9.5 trillion in 2014, an increase of $0.5 trillion. The growth rate is therefore calculated as ($0.5 trillion / $9 trillion) * 100 = 5.56%, which is closest to 6%.

If Real GDP Grows to $9