Table 14-1

-Refer to Table 14-1.Using the table above,what is the approximate growth rate of real GDP from 2010 to 2011?

Question

Table 14-1
 
-Refer to Table 14-1.Using the table above,what is the approximate growth rate of real GDP from 2010 to 2011?

Quizplus · Accepted Answer

According to Table 14-1, the real GDP for 2010 is $14,784 billion and the real GDP for 2011 is $15,195 billion. To calculate the growth rate from 2010 to 2011, we can use the formula: ((final GDP - initial GDP) / initial GDP) x 100. Plugging in the numbers, we get ((15,195 - 14,784) / 14,784) x 100 = 2.78%. Rounded to the nearest whole number, the approximate growth rate is 3%.

Table 14-1 -Refer to Table 14-1.Using the Table Above,what Is the Approximate