Economic growth from current year (c) to previous year (p) is given by ?
Correct answer: A. [(GDPc - GDPp)/ DGPp]100
- A. [(GDPc - GDPp)/ DGPp]100
- B. [(GDPc - GDPp) DGPp]100
- C. GNPc - DGPp100)
- D. [GDPp - GDPc]100
Explanation
Growth compares the change in GDP with the previous year's GDP: (GDPc − GDPp) divided by GDPp, multiplied by 100. Option a contains a typographical error, writing DGPp instead of GDPp, but clearly gives the intended formula.
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