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 $1,800 billion to $1,836 billion. What is the growth rate?

Show solution

(1836 − 1800) ÷ 1800 × 100 = 2%.

Problem 2.

Real GDP grows from $2,800 billion to $2,856 billion. What is the growth rate?

Show solution

(2856 − 2800) ÷ 2800 × 100 = 2%.

Problem 3.

Real GDP grows from $2,900 billion to $2,987 billion. What is the growth rate?

Show solution

(2987 − 2900) ÷ 2900 × 100 = 3%.

Problem 4.

Real GDP grows from $2,900 billion to $3,074 billion. What is the growth rate?

Show solution

(3074 − 2900) ÷ 2900 × 100 = 6%.

Problem 5.

Real GDP grows from $1,300 billion to $1,339 billion. What is the growth rate?

Show solution

(1339 − 1300) ÷ 1300 × 100 = 3%.

Problem 6.

Real GDP grows from $500 billion to $525 billion. What is the growth rate?

Show solution

(525 − 500) ÷ 500 × 100 = 5%.