A country has a 2008 growth rate of 4.2 percent and a 2007 GDP of $8,222 (in billions). What was the GDP in 2008?

Name: A country has a 2008 growth rate of 4.2 percent and a 2007 GDP of $8,222 (in billions). What was the GDP in 2008?
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Question

Quizplus · Accepted Answer

To find the GDP in 2008, we need to use the formula: 
GDP 2008 = GDP 2007 x (1 + Growth Rate)
GDP 2008 = $8,222 x (1 + 0.042)
GDP 2008 = $8,222 x 1.042
GDP 2008 = $8,567 (in billions)
Therefore, the answer is choice C.

A Country Has a 2008 Growth Rate of 4