In New Zealand,Total saving = $17 billion,while GDP = $150 billion.What is the New Zealand saving rate,to the nearest percentage point?

Question

Quizplus · Accepted Answer

To find the saving rate, we need to divide total saving by GDP and multiply by 100 to get the percentage.

Saving rate = (Total saving / GDP) x 100 
Saving rate = (17/150) x 100 
Saving rate = 11.3 (rounded to the nearest percentage point)

Therefore, the closest answer choice to the calculated saving rate is B) 11 percent.

In New Zealand,Total Saving = $17 Billion,while GDP = $150