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a nation's real gdp was $300 billion in year 1 and $321 billion in year 2. its population was 120 million in year 1 and 125 million in year 2. what is its real gdp growth rate in year 2?

Sagot :

Parrainidn

The real GDP growth rate in year 2, based on the Real GDP amount to the nation in Years 1 and 2, is 7%

How to find the real GDP growth rate?

The Real GDP growth rate refers to how much the real GDP has grown by in a given period.

The Real GDP growth rate is found by the formula:
= (Real GDP in Year 2 - Real GDP in year 1) / Real GDP in year 1 x 100%

Solving for the real GDP growth rate for Year 2 gives:
= (321 billion - 300 billion) / 300 billion  x 100%

= 21 billion / 300 billion x 100%

= 7%

Find out more on Real GDP growth rate at https://brainly.com/question/28862357

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