In 1998,per capita real gross domestic product (GDP)in Thailand was $4,444.19.By 1999,it had increased to $4,695.22.At what rate did Thailand's economy grow in that time?

Question

Quizplus · Accepted Answer

The rate of growth can be calculated using the formula:(New GDP - Old GDP) / Old GDP * 100In this case, the new GDP is $4,695.22 and the old GDP is $4,444.19.Therefore, the rate of growth is:($4,695.22 - $4,444.19) / $4,444.19 * 100 = 5.65%Therefore, the correct answer is B) 5.65%.

In 1998,per Capita Real Gross Domestic Product (GDP)in Thailand Was