Economic Growth Rate Calculation in Dale 2022
What was the real GDP of Dale in 2021 and 2022?
Dale's real GDP was 17,284 billion pesos in 2021 and 17,789 billion pesos in 2022.
What was Dale's population growth rate in 2022?
Dale's population growth rate in 2022 was 1.5 percent.
What was Dale's economic growth rate in 2022?
a) Dale's economic growth rate in 2022 was percent.
Final answer:
Dale's real GDP grew by 2.92 percent in 2022 when compared to 2021.
The question asks for the economic growth rate of Dale's real GDP in 2022. The economic growth rate refers to the percent change in GDP from one year to the next.
To calculate it, we subtract the GDP for 2021 from the GDP for 2022, divide the result by the GDP for 2021, and then multiply the result by 100 to express it as a percentage. In this case, the calculation is ((17,789 billion pesos - 17,284 billion pesos) / 17,284 billion pesos) * 100. This results in an economic growth rate of approximately 2.92 percent.
Dale's real GDP, therefore, grew by 2.92 percent in 2022.