Question

If real GDP in Country A amounted to $1.62 trillion in 2019 and $1.71 trillion in 2018, the real GDP growth rate in this country in 2019 is:

Answer 1

The real GDP growth rate in this country in the year 2019 is -5.26%

Step-by-step explanation:

The computation of the real GDP growth rate for the year 2019 is shown below:

= (GDP in 2019 - GDP in 2018) ÷ (GDP in 2018)

= ($1.62 trillion - $1.71 trillion) ÷ ($1.71 trillion)

= -5.26%

Hence, the real GDP growth rate in this country in the year 2019 is -5.26%

We simply applied the above formula and the same is to be considered