The real GDP in 2010 was $1,800 billion and $1,944 billion in 2011.What is the growth rate in real GDP measured in percentage change? Question 9Answer a. 6% b. 7% c. 5% d. 8%

Suppose that real GDP was $2265 billion in 2018 and $2285 billion in 2019. Calculate the growth rate for this economy. Provide answer to 2 decimal points.

Calculate the average annual growth rate using the information in the table below. Round to two decimal places.  Year Growth rate  2017         3.2%  2018        2.7%  2019        0.5%  2020        1.8%

Why is real GDP a better measure of economic growth than nominal GDP?

Why do economists prefer to use real gross domestic product (RGDP) instead of nominal gross domestic product (NGDP) when measuring the economic growth of a country? Why is real GDP considered more relevant than the other?

MC Questions 1) Of the following, the most often used measure of changing living standards is A) the growth rate of nominal GDP. B) the growth rate of real GDP. C) the growth rate of nominal GDP per capita. D) the growth rate of real GDP per capita.

Suppose that work hours in New Zombie are 200 in year 1 and productivity is $12 per hour worked. Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is New Zombie's real GDP? $ b. If work hours increase to 210 in year 2 and productivity rises to $14 per hour, what is New Zombie's rate of economic growth? percent

Between the start of 2012 and the start of 2013, a country’s economic growth rate was 4 percent. Its population did not change during the year, nor did its price level. What was the rate of increase of the country’s nominal GDP during this one-year interval?   Q

In 2018, India was the world’s seventh largest economy, with a $2.69 trillion GDP (as measured in U.S. dollars). India was also one of the world’s fastest-growing economies, with an annual growth rate of real GDP of 7.3%. a. If the country maintains the same growth rate, how many years will it take for India’s GDP to double? b. Bangladesh’s GDP was $286.27 billion, but its growth rate was equal to India’s. How many years will it take for Bangladesh’s economy to double? c. Although Bangladesh and India have the same annual growth rate, their economies are much different in size. How can you explain the size difference to someone who is unfamiliar with scaling large numbers? Which strategies would you use?

growth in real GDP is not always seen as economic growth. why?