In the Republic of Yemen,per capita real gross domestic product (GDP)in 2004 was $2,109.27.By 2005,it had increased to $2,203.05.At what rate did Yemen's economy grow in that time?

Question

Quizplus · Accepted Answer

To find the rate of growth, we'll use the following formula:

rate of growth = (new value - old value) / old value x 100

Substituting the given values, we get:

rate of growth = ($2,203.05 - $2,109.27) / $2,109.27 x 100
rate of growth = $93.78 / $2,109.27 x 100
rate of growth = 0.04445 x 100
rate of growth = 4.45%

Therefore, the answer is B) 4.45%.

In the Republic of Yemen,per Capita Real Gross Domestic Product