If Real GDP Grows by 3% in 2011,3

question 195

Multiple Choice

If real GDP grows by 3% in 2011,3.2% in 2012,and 2.5% in 2013,what is the average annual growth rate of real GDP?

• A)2.6%
• B)2.9%
• C)3.1%
• D)4.2%

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Definitions:

Shares

Units of ownership interest in a corporation or financial asset, providing a portion of the ownership to the shareholder.

Geometric Average

The average rate of return for a set of values calculated by multiplying them together and then taking the nth root (where n is the total number of values).

Arithmetic Average

A calculated central value of a set of numbers by adding all numbers and dividing by the count of numbers.

Probability Ranges

A statistical measure that estimates the range within which the value of a variable or outcome will fall, given a certain level of confidence.