If real GDP in year 1 is $487 billion and it is $498 billion in year 2, what is the economic growth rate equal to?

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The quick answer is that there has been 2.25% economic growth from year one to year 2.

To answer this, what you need to do is be able to figure out the percent change that happens between these two numbers.

The way to figure out percent change is to take...

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The quick answer is that there has been 2.25% economic growth from year one to year 2.

To answer this, what you need to do is be able to figure out the percent change that happens between these two numbers.

The way to figure out percent change is to take the difference between the two years' figures and divide that difference by the value of the first year.

In this case, that means you subtract year 1 from year 2 and get $11 billion.  They you divide that by $487 and get the figure of 2.25% that I mentioned above.

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