Suppose that real GDP for 2010 was $1,000 billion and real GDP for 2011 was $950 billion.What is the rate of growth of real GDP between 2010 and 2011?

Question

Quizplus · Accepted Answer

The rate of growth can be calculated using the following formula:

Rate of growth = ((Real GDP in 2011 - Real GDP in 2010) / Real GDP in 2010) x 100

Plugging in the values, we get:

((950 - 1000) / 1000) x 100 = -5%

Therefore, the rate of growth of real GDP between 2010 and 2011 is -5%.

So, the correct answer is B.

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