Thank you for visiting If GDP was 15 trillion in 2015 and 18 trillion in 2016 what would be the real growth Options A 3 trillion B 15 C. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Final answer:
To determine the real GDP growth rate, the change in GDP ($3 trillion) is divided by the average GDP of the two years ($16.5 trillion), resulting in a growth rate of about 18%. None of the options provided match this exactly, but one is close.
Explanation:
To calculate the real growth rate of GDP, we need to take the change in GDP and divide by the average GDP between the two years. The nominal growth is simply $18 trillion - $15 trillion = $3 trillion. The average GDP over the two years is ($18 trillion + $15 trillion) / 2 = $16.5 trillion. Therefore, the real growth rate is the change in GDP ($3 trillion) divided by the average GDP ($16.5 trillion), which gives us approximately 0.1818 or 18.18%. This can be rounded to approximately 18%, so none of the provided options is exactly correct, but option B (15%) is closest without going over.
Thank you for reading the article If GDP was 15 trillion in 2015 and 18 trillion in 2016 what would be the real growth Options A 3 trillion B 15 C. We hope the information provided is useful and helps you understand this topic better. Feel free to explore more helpful content on our website!
- You are operating a recreational vessel less than 39 4 feet long on federally controlled waters Which of the following is a legal sound device
- Which step should a food worker complete to prevent cross contact when preparing and serving an allergen free meal A Clean and sanitize all surfaces
- For one month Siera calculated her hometown s average high temperature in degrees Fahrenheit She wants to convert that temperature from degrees Fahrenheit to degrees
Rewritten by : Jeany
