Economic growth rate practice problems

Macroeconomics Unit 5. Try each one, then open the worked solution. The Credit Sprint app generates unlimited new versions with fresh numbers.

Problem 1.

Real GDP grows from $3,000 billion to $3,030 billion. What is the growth rate?

Show solution

(3030 − 3000) ÷ 3000 × 100 = 1%.

Problem 2.

Real GDP grows from $2,300 billion to $2,346 billion. What is the growth rate?

Show solution

(2346 − 2300) ÷ 2300 × 100 = 2%.

Problem 3.

Real GDP grows from $2,000 billion to $2,100 billion. What is the growth rate?

Show solution

(2100 − 2000) ÷ 2000 × 100 = 5%.

Problem 4.

Real GDP grows from $1,200 billion to $1,230 billion. What is the growth rate?

Show solution

(1230 − 1200) ÷ 1200 × 100 = 2.5%.

Problem 5.

Real GDP grows from $2,800 billion to $2,884 billion. What is the growth rate?

Show solution

(2884 − 2800) ÷ 2800 × 100 = 3%.

Problem 6.

Real GDP grows from $1,600 billion to $1,680 billion. What is the growth rate?

Show solution

(1680 − 1600) ÷ 1600 × 100 = 5%.