If real GDP in year 1 is $72 million and real GDP in year 2 is $87 million, then the growth rate of real GDP is

Name: If real GDP in year 1 is $72 million and real GDP in year 2 is $87 million, then the growth rate of real GDP is
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Question

Quizplus · Accepted Answer

The growth rate of real GDP is calculated as [(Year 2 GDP - Year 1 GDP) / Year 1 GDP] * 100. So, [(87 - 72) / 72] * 100 = 20.8 per cent.

If Real GDP in Year 1 Is $72 Million and Real