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Need help quick Much appreciated JC Business

  • 27-02-2013 10:10pm
    #1
    Closed Accounts Posts: 286 ✭✭


    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


Comments

  • Registered Users, Registered Users 2 Posts: 512 ✭✭✭collegeme


    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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