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Suppose an economy's real GDP is $50,000 in year 1 and $51,200 in year 2. What is the growth rate of its real

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Suppose an economy's real GDP is $50,000 in year 1 and $51,200 in year 2. What is the growth rate of its real

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  1. 51200 / 50000= 1.024 = +2.4%

    Growth rate = +2.4%

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