Suppose Real GDP Was 100 in Year 1 and 105

question 50

Multiple Choice

Suppose real GDP was 100 in year 1 and 105 in year 2. The growth rate of real GDP is

• A) 0.5 percent.
• B) 1.5 percent.
• C) 2.5 percent.
• D) 5 percent.

---

Definitions:

Events

Occurrences or happenings, often of significance and usually discrete, that can be observed and recorded.

Continuous Random Variable

A type of random variable that can take an infinite number of values within a given range.

Outcomes

The possible results or consequences of an experiment or situation.

Intervals

In mathematics and statistics, a range between two numbers or quantities, indicating their difference or the period between two points in time.