The table shows index numbers for real GDP (national output) for various countries (2014 100). Using the
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The table shows index numbers for real GDP (national output) for various countries (2014 100). Using the formula G = (Yt – Yt–1)/Yt–1 100 (where G is the rate of growth, Y is the index number of output, t is any given year and t–1 is the previous year):
(a) Work out the growth rate, G, for each country for each year from 2015 to 2022.
(b) Plot the figures on a graph. Describe the pattern that emerges.
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Related Book For
Essential Economics For Business
ISBN: 9781292728940
7th Edition
Authors: John Sloman, Elizabeth Jones
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