If real GDP per capita in a country was $14,000 in year 1 and $14,140 in year 2,then the economic growth rate for this country from year 1 to year 2 was:

Name: If real GDP per capita in a country was $14,000 in year 1 and $14,140 in year 2,then the economic growth rate for this country from year 1 to year 2 was:
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Quizplus · Accepted Answer

The economic growth rate is calculated by the formula [(Year 2 GDP - Year 1 GDP) / Year 1 GDP] * 100. So, [(14,140 - 14,000) / 14,000] * 100 = 1%.

If Real GDP Per Capita in a Country Was $14,000