If real GDP in a small country in 2010 is $8 billion and real GDP in the same country in 2011 is $8.3 billion,the growth rate of real GDP between 2010 and 2011

Question

Quizplus · Accepted Answer

The growth rate of real GDP between 2010 and 2011 can be calculated as follows:

Growth rate = (Real GDP in 2011 - Real GDP in 2010) / Real GDP in 2010

Growth rate = ($8.3 billion - $8 billion) / $8 billion

Growth rate = $0.3 billion / $8 billion

Growth rate = 0.0375

Growth rate = 3.75%

Therefore, the correct answer is C (3.75%).

If Real GDP in a Small Country in 2010 Is