Figure 14.2
-In Figure 14.2,given the economy is at point A in year 1 and point B in year 2,what is the growth rate in real GDP between those two years?

Question

Figure 14.2 
-In Figure 14.2,given the economy is at point A in year 1 and point B in year 2,what is the growth rate in real GDP between those two years?

Quizplus · Accepted Answer

The growth rate in real GDP is calculated by taking the difference in GDP between the two years, dividing by the GDP in the first year, and then multiplying by 100 to get a percentage. The given options suggest that the correct calculation results in a 7.3% growth rate.

Figure 14.2 -In Figure 14.2,given the Economy Is at Point a in Point