Answered: In 2002, Aptonville’s real GDP was…

In 2002, Aptonville’s real GDP was $3750. In 2003, Aptonville’s real GDP increased to $4200. Calculate the growth rate (in % terms) of real GDP between 2002 and 2003.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In 2002, Aptonville’s real GDP was $3750. In 2003, Aptonville’s real GDP increased to $4200. Calculate the growth rate (in % terms) of real GDP between 2002 and 2003.

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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