If Real GDP Grows from $10 Trillion in 2002 to $10.5

question 67

Multiple Choice

If real GDP grows from $10 trillion in 2002 to $10.5 trillion in 2003,the growth rate for real GDP is

• A)5%.
• B)10%.
• C)50%.
• D)0.5%.

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Definitions:

Union Symbol

In set theory, a symbol (∪) that denotes the union of two sets, meaning it combines all the elements from both sets, excluding duplicates.

Absolute Value Equation

An equation that contains an absolute value expression, requiring consideration of both the positive and negative cases to find solutions.

Linear Equations

Equations of the first degree, meaning they involve only the first power of the variable(s).

Inequality

An inequality is a mathematical statement indicating that two expressions are not equal, utilizing symbols like <, >, ≤, or ≥ to denote the relationship between them.