If U.S. real GDP in 2007 was $13.25 trillion and U.S. real GDP in 2008 was $13.31 trillion, what was the economic growth rate of the United States during this period?

Question

Quizplus · Accepted Answer

To calculate the economic growth rate, we need to use the formula (Real GDP in current year - Real GDP in previous year) / Real GDP in previous year x 100
(13.31 - 13.25) / 13.25 x 100 = 0.45%
Therefore, the economic growth rate during this period was 0.45% or 1.36% (rounded to two decimal places).

If US Real GDP in 2007 Was $13