Suppose that real GDP for 2010 was $1,000 billion and real GDP for 2011 was $1,100 billion.What is the rate of growth of real GDP between 2010 and 2011?

Name: Suppose that real GDP for 2010 was $1,000 billion and real GDP for 2011 was $1,100 billion.What is the rate of growth of real GDP between 2010 and 2011?
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Question

Quizplus · Accepted Answer

The rate of growth of real GDP is calculated as [(Real GDP in 2011 - Real GDP in 2010) / Real GDP in 2010] * 100 = [(1100 - 1000) / 1000] * 100 = 10%.

Suppose That Real GDP for 2010 Was $1,000 Billion and Real