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The following table shows real GDP for both the United States and China, in billions of 2009 dollars:Real GDP Measured in Billions of 2009Dollars20152014$8, 169China$7,642$16,349United States$15,962a) Which country's economy waslarger in 2014?United StatesChinab) Which economy grew faster between 2014 and 2015?ChinaUnited Statesc) Which economy was larger economy in 2015?United States

Question
The following table shows real GDP for both the United States and China, in billions of 2009 dollars:
Real GDP Measured in Billions of 2009
Dollars
2015
2014
$8, 169
China
$7,642
$16,349
United States
$15,962
a) Which country's economy was
larger in 2014?
United States
China
b) Which economy grew faster between 2014 and 2015?
China
United States
c) Which economy was larger economy in 2015?
United States
<9 China
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The following table shows real GDP for both the United States and China, in billions of 2009 dollars: Real GDP Measured in Billions of 2009 Dollars 2015 2014 $8, 169 China $7,642 $16,349 United States $15,962 a) Which country's economy was larger in 2014? United States China b) Which economy grew faster between 2014 and 2015? China United States c) Which economy was larger economy in 2015? United States <9 China Next 12 of 15 Prev Prev

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Step 1

(a)

According to the Real GDP data in United State and China during 2014, United State has higher Real GDP ($15,962) than China ($7,642). From this it is clear that United State economy is larger during the period of 2014.

Step 2

(b)

Calculation of growth rate of China is shown below.

GD
Growth rate
PresentGDPPrevious
GDP
Previous
8,169-7,642
7,642
=0.068(6.8%)
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GD Growth rate PresentGDPPrevious GDP Previous 8,169-7,642 7,642 =0.068(6.8%)

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Step 3

Calculation of growth rate of Uni...

GD
Growth rate
PresentDPrevious
GDPPrevious
16,349-15,962
15,962
=0.024 (2.4%)
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GD Growth rate PresentDPrevious GDPPrevious 16,349-15,962 15,962 =0.024 (2.4%)

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