Use the following to answer questions: Table: GDP Data $$\begin{array} { l l }
\hline \text { 2000 GDP in } 2000 \text { dollars } & \$ 11.6 \text { trillion } \
1995 \text { GDP in } 2000 \text { dollars } & \$ 10 \text { trillion } \
1995 \text { GDP in } 1995 \text { dollars } & \$ 8.8 \text { trillion }
\end{array}$$
-(Table: GDP Data) Using the GDP data in the table, how much did nominal GDP grow between 1995 and 2000?
A) -14.5%
B) 16%
C) 13.63%
D) 31.8%

Question

Use the following to answer questions: Table: GDP Data $$\begin{array} { l l } 
\hline \text { 2000 GDP in } 2000 \text { dollars } & \$ 11.6 \text { trillion } \
1995 \text { GDP in } 2000 \text { dollars } & \$ 10 \text { trillion } \
1995 \text { GDP in } 1995 \text { dollars } & \$ 8.8 \text { trillion }
\end{array}$$
-(Table: GDP Data) Using the GDP data in the table, how much did nominal GDP grow between 1995 and 2000?
A) -14.5%
B) 16%
C) 13.63%
D) 31.8%

Quizplus · Accepted Answer

Nominal GDP growth is calculated using the formula: $(\text{GDP in later year} - \text{GDP in earlier year}) / \text{GDP in earlier year} \times 100$. Using the nominal GDP values: $(11.6 - 8.8) / 8.8 \times 100 = 31.8\%$.

Use the Following to Answer Questions: Table: GDP Data -(Table: GDP Data) Using the GDP Data in the Table