Question

if the chain-weighted growth rate of real gdp from 2007 to 2008 is 13% using 2007 as the reference year, what would be the chain-weighted growth rate of real gdp from 2007 to 2008 if the reference year were changed to 2006? a. 6.5% b. 7.5% c. 13% d. 26% e. more information required to calculate the answer.

Answer 1

The chain-weighted growth rate of real GDP from 2007 to 2008 using 2006 as the reference year would be 13%.

Step-by-step explanation:

To find the chain-weighted growth rate of real GDP from 2007 to 2008 using 2006 as the reference year, we need to calculate the change in real GDP and divide it by the average of the real GDP in 2006 and 2007.

Let's assume the chain-weighted growth rate of real GDP from 2007 to 2008 using 2007 as the reference year is 13%. We can use the formula for percentage change:

Growth rate = (New value - Old value) / Avg value * 100

Using 2006 as the reference year, we know that the change in real GDP from 2006 to 2007 will remain the same since it is the same time period. Therefore, the chain-weighted growth rate of real GDP from 2007 to 2008 using 2006 as the reference year will still be 13%.