GDP growth rate

Measures the percentage change in a nation’s GDP between one year and an earlier year. Equals Year 2’s GDP minus Year 1’s GDP, divided by year 1’s GDP times 100. For example: If in 2011 GDP = 120 billion, and in 2010 it equaled 100 billion. The GDP growth rate = (120-100)/100 = 0.2 x 100 = 20%

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