Suppose real GDP in 2010 is $6,105 billion.If the forecasted rate of growth for the year 2011 is 2.75 percent,then in the year 2011,real GDP will be

Question

Quizplus · Accepted Answer

To find the real GDP for 2011, calculate 2.75% of $6,105 billion and add it to the 2010 GDP: $6,105 billion * 0.0275 = $167.8875 billion. Adding this to $6,105 billion gives approximately $6,272.8875 billion, which rounds to $6,273 billion.

Suppose Real GDP in 2010 Is $6,105 Billion