Question

Answer the following questions. Instructions: In part a, enter your response rounded to one decimal place. In part b, enter your response rounded to the nearest dollar. a. Using data from 2015, how much more output does the $3,400 billion economy in Germany produce when GDP increases by 2 percent

Answer 1

Answer: $68 billion

Step-by-step explanation:

The GDP at the beginning of the year is $3,400 billion in Germany. This is the output before the year ends.

In that year, output increases by 2% which means the beginning GDP increased by 2%.

The increase is therefore:

= 3,400 * 2%

= $68 billion