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Need help quick Much appreciated JC Business

cfc.forever · 2013-02-27 21:10:27

GNP in 2011 was 750 million. In 2012, it was 780 million. Calculate the rate of economic growth from 2011 to 2012. I don't really know what to do, I need to get this question right I think you do 780-750 but could someone verify this or help plz. Much appreciated, cfc.forever

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27-02-2013 10:10pm

#1

cfc.forever

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GNP in 2011 was 750 million. In 2012, it was 780 million. Calculate the rate of economic growth from 2011 to 2012. I don't really know what to do, I need to get this question right I think you do 780-750 but could someone verify this or help plz.

Much appreciated,

cfc.forever

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#2 01-03-2013 5:56pm
collegeme

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The question is rate of growth. So you would take 780-750/750 = .04 or 4% growth ....rate of growth is usually looking for answer in % terms

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