biscms/mod/ibis/view.php?id 2113390 Reade MACOMBER: Ch. 8 ty EC 202 15 www.sapli

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biscms/mod/ibis/view.php?id 2113390 Reade MACOMBER: Ch. 8 ty EC 202 15 www.saplinglearning.com T+ T Michigan State Sort the argume... www.saplinglea. www.saplinglea. Decide whether www.saplinglea. TBM Reader Economics ques Jump to sapling learning Sapling Learning Michigan State University-EC 202 Intro to Macroeconomics Fall15 MACOMBER Activities and Due Dates Ch. 8 My Assignment Resources Attempts Score 10/9/2015 10:00 AM A 73.1/100 Assignment Information Gradebook Print Calculator Available From Not Set 95 Questi 3 of 18 10/9/2015 10:00 AM Due Date: Map 00 Points Possible 100 Grade Category: Graded Assume GDP at period zero is equal to 100 and GDP at period one is equal to 3270. Description: What is the growth rate of GDP if the number of years between period zero and period one is 23? (Pease 95 express the result as a percent and nound to one decimal place.) Homework (no peri Policies: 00 You can check your answers. 90 You can view solutions when you comple up on any question 00 You can keep trying to answer each que you get it right or give up You lose 5% of the points available to ea 95 in your question for each incorrect atten ansWe 98 88 O eTextbook 85 OHelp With This Topic 98 Web Help & Videos 70 O Technical Support and Bug Repo O Previous Give Up & View Solution Check Answer Next Exit

Explanation / Answer

GDP at period 0= 100

GDP at the end of period 23 = 3270

To calculate the growth rate, we can use the formula as follows:

growth rate % = (ending value at 23 year/ ending value at 0 year )^(1/T) -1

where T is the number of period in between i.e. 23 years in this case

Growth rate % = (3270/100)^(1/23)-1 = 16.37% per year

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