Question: If a country\'s GDP grows from $1 trillion to $1.2 trillion in a year, what is the growth rate?
Options:
15%
20%
10%
25%
Correct Answer: 20%
Solution:
Growth rate = ((1.2 - 1) / 1) * 100 = 20%
If a country's GDP grows from $1 trillion to $1.2 trillion in a year, what is th
Practice Questions
Q1
If a country's GDP grows from $1 trillion to $1.2 trillion in a year, what is the growth rate?
15%
20%
10%
25%
Questions & Step-by-Step Solutions
If a country's GDP grows from $1 trillion to $1.2 trillion in a year, what is the growth rate?
GDP Growth Rate Calculation – The growth rate is calculated by taking the difference between the new GDP and the old GDP, dividing by the old GDP, and then multiplying by 100 to get a percentage.
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