The growth rate of real GDP equals
A) [(real GDP in previous year - real GDP in current year) ÷ real GDP in previous year] × 100.
B) [(real GDP in current year - real GDP in previous year) ÷ real GDP in current year] × 100.
C) [(employment in the current year - employment in previous year) /employment in previous year] × 100.
D) [(real GDP in current year - real GDP in previous year) ÷ real GDP in previous year] × 100.
E) (real GDP in current year - real GDP in previous year) × 100.
Correct Answer:
Verified
Q2: Economic growth is a sustained expansion of
Q3: Assume the population growth rate is 2
Q6: Q7: The Rule of _ can be used Q7: Economic growth is defined as Q8: If real GDP in year 1 is Q11: The population in the current year is Q12: If real GDP grows at a faster![]()
A) a sustained
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