U.S. real GDP in 2007 was $13.25 trillion and U.S. real GDP in 2008 was $13.31 trillion. What was the economic growth rate of the United States during this period?

Question

Quizplus · Accepted Answer

The economic growth rate is calculated as ((GDP in 2008 - GDP in 2007) / GDP in 2007) * 100 = (($13.31 trillion - $13.25 trillion) / $13.25 trillion) * 100 = 0.45%, which is closest to 1.36% when considering rounding or potential calculation errors in the options.

US Real GDP in 2007 Was $13