cocobean7469 cocobean7469
  • 13-02-2020
  • Business
contestada

A country's GDP (in billions) was $5,690 in 2010 and $5,899 in 2011. What is the growth rate of GDP?

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Dryomys Dryomys
  • 13-02-2020

Answer:

3.67%

Explanation:

Given that,

Country's GDP in 2010 = $5,690 billion

Country's GDP in 2011 = $5,899 billion

Growth rate of GDP:

= [(GDP in 2011 - GDP in 2010) ÷ GDP in 2010] × 100

= [($5,899 - $5,690) ÷ $5,690] × 100

= ($209 ÷ $5,690) × 100

= 0.0367 × 100

= 3.67%

Therefore, the country's growth rate of GDP is 3.67%.

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