If real GDP in Korea amounted to 448.3 trillion wons in 1999 and 473.7 trillion wons in 2000, compute the growth experienced by this country in 2000?

Name: If real GDP in Korea amounted to 448.3 trillion wons in 1999 and 473.7 trillion wons in 2000, compute the growth experienced by this country in 2000?
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Question

Quizplus · Accepted Answer

The growth rate formula is: (new value - old value) / old value * 100%.

Plugging in the given data, we get:

(473.7 - 448.3) / 448.3 * 100% = 5.66%

Therefore, the correct answer is B) 5.66%.

If Real GDP in Korea Amounted to 448