Growthland's real GDP per person was $112,000 in 2009 and $117,000 in 2010.What is the growth rate of Growthland's real GDP per person in 2010?

Name: Growthland's real GDP per person was $112,000 in 2009 and $117,000 in 2010.What is the growth rate of Growthland's real GDP per person in 2010?
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Question

Quizplus · Accepted Answer

Using the formula: (New value - Old value) / Old value x 100%
We get: (117,000 - 112,000) / 112,000 x 100% = 4.46%
Rounding to one decimal place, we get 4.5%, which is closest to option B.

Growthland's Real GDP Per Person Was $112,000 in 2009 and $117,000