The GDP for a hypothetical economy is determined to be 6 billion dollars in year 1
and 7.5 billion dollars in year 2. What is the growth rate of GDP from year 1 to year
2? (1 point)
O 150%
25%
O 125%
1.5%

GDP is also known as Gross Domestic Product, which is the market value of all the final goods and services being produced in a country during a financial year.

In the above given case, the GDP of an economy is 6 billion, which rises to 7.5 billion in year 2. When calculated, it is obtained that the GDP has grown at a rate of 25% annually.

Hence, it can be stated that the growth rate of the GDP of an economy is 25% if it is 6 billion in year 1 and 7.5 billion in year 2.

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The GDP for a hypothetical economy is determined to be 6 billion dollars in year 1 and 7.5 billion dollars in year 2. What is the growth rate of GDP from year 1 to year 2? (1 point) O 150% 25% O 125% 1.5%

Answer :

What is GDP?

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The GDP for a hypothetical economy is determined to be 6 billion dollars in year 1
and 7.5 billion dollars in year 2. What is the growth rate of GDP from year 1 to year
2? (1 point)
O 150%
25%
O 125%
1.5%