If real GDP was $750 billion in 2006 and $800 billion in 2007,the economic growth rate was approximately ___ percent.

Name: If real GDP was $750 billion in 2006 and $800 billion in 2007,the economic growth rate was approximately ___ percent.
Brand: Quizplus
Rating: 4.8 (55 reviews)

Question

Quizplus · Accepted Answer

The economic growth rate is calculated as the percentage change in real GDP from one year to the next. In this case, the growth rate from 2006 to 2007 is:(800 - 750) / 750 * 100 = 6.67%Therefore, the economic growth rate was approximately 6.7%.

If Real GDP Was $750 Billion in 2006 and $800