Question

Between quarter 10 and quarter 11, real GDP grew by what percentage?

a. 5%
b. 6%
c. 3%
d. 4%
e. –5%

Answer 1

Incomplete question.

However, let's assume the real GDP for quarter 10 was $45,000and for quarter 11 is $47,250.

Answer:

a. 5%

Step-by-step explanation:

First, remember that the real GDP refers to the total value of all of the final goods and services produced in an economy during a given period (usually a year) after taking into account inflation.

To find the percentage increase, we subtract

$47250-$45,000 = $2250

Next, we find the percentage of the amount on $45,000

$2250/$45000 * 100 = 5%