Suppose that real GDP for 2017 was $10,000 billion and real GDP for 2018 was $11,000 billion.What is the rate of growth of real GDP between 2017 and 2018?

Name: Suppose that real GDP for 2017 was $10,000 billion and real GDP for 2018 was $11,000 billion.What is the rate of growth of real GDP between 2017 and 2018?
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Quizplus · Accepted Answer

The rate of growth of real GDP is calculated as [(Real GDP in 2018 - Real GDP in 2017) / Real GDP in 2017] * 100 = [(11,000 - 10,000) / 10,000] * 100 = 10%.

Suppose That Real GDP for 2017 Was $10,000 Billion and Real