Refer to Figure 15.2 for the following questions.
Figure 15.2
-In Figure 15.2,given the economy is at point A in year 1 and point B in year 2,what is the growth rate in real GDP between those two years?
A) 2.5 per cent
B) 7.3 per cent
C) 8.0 per cent
D) 10.0 per cent

Question

Refer to Figure 15.2 for the following questions.
Figure 15.2 
-In Figure 15.2,given the economy is at point A in year 1 and point B in year 2,what is the growth rate in real GDP between those two years?
A) 2.5 per cent 
B) 7.3 per cent 
C) 8.0 per cent 
D) 10.0 per cent

Quizplus · Accepted Answer

The growth rate in real GDP is calculated by taking the difference in GDP between year 2 and year 1, dividing by the GDP in year 1, and then multiplying by 100 to get a percentage. The given options suggest that the correct calculation results in a 7.3% growth rate.

Refer to Figure 15.2 for the Following Questions