Question

Fill in the blank question. Suppose U.S. nominal GDP was $14.9 trillion in 2011 and $15.6 trillion in 2012. The growth rate of nominal GDP over this period is

Answer 1

The growth rate of nominal GDP in the U.S between 2011 to 2012 is 4.7%

Equation

An equation is an expression that shows the relationship between two or more variables and numbers.

From the question:

Growth rate = [(15.6 trillion - 14.9 trillion) / (14.9 trillion)] * 100% = 4.7%

The growth rate of nominal GDP in the U.S between 2011 to 2012 is 4.7%

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