If Real GDP Was $8,742 Billion in Year 2 and It

question 23

Multiple Choice

If Real GDP was $8,742 billion in year 2 and it had been $8,509 billion in year 1,what was the approximate economic growth rate during this time period?

• A)9.73 percent
• B)2.67 percent
• C)3.58 percent
• D)2.74 percent

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Definitions:

Limited Portion

A segment or fraction of something that is restricted in size, amount, or extent.

Decimal Inch

Decimal inch is a measurement unit in the imperial system represented in decimal form, used for expressing precise dimensions in engineering and manufacturing.

Fractional Inch

A measurement unit used in the United States, indicating fractions of an inch for specifying lengths, diameters, and other dimensions.

Twist Drills

Cutting tools used to create cylindrical holes, characterized by their twisted flutes that remove chips from the drilled material.