Real GDP is $9 trillion in the current year and $8.6 trillion in the previous year.The economic growth rate between these years has been

Question

Quizplus · Accepted Answer

To calculate the economic growth rate, we need to use the formula:

[(Current year GDP - Previous year GDP) / Previous year GDP] x 100

Plugging in the values, we get:

[(9 trillion - 8.6 trillion) / 8.6 trillion] x 100 = 4.65 percent

Therefore, the answer is B, 4.65 percent.

Real GDP Is $9 Trillion in the Current Year and $8.6