If real GDP in country A is $400 billion one year and is $440 billion the...
If real GDP in country A is $400 billion one year and is $440 billion the following year, this means the growth rate for this country between the two years is:
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4%
8%
10%
9%
Homework Answers
- 10%
Growth rate= present value-past value/past value
=$440 billion- $400 billion/ $400 billion=0.1
=0.1*100=10%.
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