Suppose that in the year 2011 real GDP is $9,000 and in 2012 real GDP is $9,200 billion. Hence, the rate of growth in real GDP between 2007 and 2008 is 3.8 percent.

Question

Quizplus · Accepted Answer

The given data is for the years 2011 and 2012, not 2007 and 2008. Additionally, the growth rate calculation provided does not correspond to the change from $9,000 billion to $9,200 billion.

Suppose That in the Year 2011 Real GDP Is $9,000