2) Suppose that real GDP for 2019 was $22.000 billion and real GDP for 2020 was...

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Question

Answer 1

Answer #1

Growth rate of real GDP from 2019 to = (Real GDP ₂₀₂₀ - Real GDP ₂₀₁₉)/( Real GDP ₂₀₁₉)

= (23100 - 22000)/22000

= 1100/22000

= 0.05

or

= 5%

thus, (c) is correct option.

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Answer 2

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