Last year real GDP per person in the imaginary nation of Olympus was 4,250.The year before it was 4,100.By about what percentage did Olympian real GDP per person grow during the period?
A)1.6 percent
B)2.5 percent
C)3.7 percent
D)6 percent

Question

Quizplus · Accepted Answer

The percentage change in real GDP per person is calculated as [(New GDP - Old GDP) / Old GDP] * 100. In this case, the change is [(4,250 - 4,100) / 4,100] * 100 = 3.66%, which is closest to 3.7%.

Last Year Real GDP Per Person in the Imaginary Nation