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Technological advancements typically increase productivity and encourage economic growth. Suppose a breakthrough in technology causes a rapid increase in a country's productivity. As a result, its real GDP increase from $11, 600 to $12,900. What is the percent change in real GDP? Round your answer to the nearest tenth. Be sure to include a negative sign in your answer if necessary. Provide your answer below: %

Technological advancements typically increase productivity and encourage economic growth. Suppose a breakthrough in technology causes a rapid increase in a country's productivity. As a result, its real GDP increase from $11, 600 to $12,900. What is the percent change in real GDP? Round your answer to the nearest tenth. Be sure to include a negative sign in your answer if necessary. Provide your answer below: %

Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter13: Measuring The Economy's Performance
Section: Chapter Questions
Problem 10AA
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Technological advancements typically increase productivity and encourage economic growth. Suppose a breakthrough in technology causes a rapid increase in a country's productivity. As a result, its real GDP increase from $11, 600 to $12, 900. What is the percent change in real GDP? Round your answer to the nearest tenth. Be sure to include a negative sign in your answer if necessary. Provide your answer below:
Transcribed Image Text:Technological advancements typically increase productivity and encourage economic growth. Suppose a breakthrough in technology causes a rapid increase in a country's productivity. As a result, its real GDP increase from $11, 600 to $12, 900. What is the percent change in real GDP? Round your answer to the nearest tenth. Be sure to include a negative sign in your answer if necessary. Provide your answer below:
Consumers in a small economy spend $47,000 on goods and services annually. Also annually, investment is $8,000, government spending is $5,000, exports are $400, and imports are $100. What is the value of GDP in this economy? Provide your answer below:
Transcribed Image Text:Consumers in a small economy spend $47,000 on goods and services annually. Also annually, investment is $8,000, government spending is $5,000, exports are $400, and imports are $100. What is the value of GDP in this economy? Provide your answer below:
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