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Small Kevin Chen

Budget: $15

Solved!

Find the real GDP growth rate for the economy if in 2013 real GDP was 600,000 and in 2014 it was 850,000.

Answer

Small Tutor Farzad Farzanegan

GDP growth rate = [ new GDP-old GDP]/old GDP =[ 850,000-600,000]/600,000=41.66%...