In the table below there is the latest available historical data (with the sourc

Question

In the table below there is the latest available historical data (with the source link) of quarterly real GDP. Use these data and your knowledge so far as a student of business and economics to answer the questions below, 1-5, which are important to assess the current health of the economy. Year Quarter 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 Real GDP (2012 prices) Sbillions US$17.523.37 US$17,622.49 US$17.706.70 US$17,784.18 US$17,863.02 US$17,995.15 US$18,120.84 US$18,223.76 US$18,323.96 US$18,514.60 https://www.bea.q

Explanation / Answer

1) Growth rate of the US economu = 18514.60-18323.96/18323.96 = 0.0104 or 1.04%

2) growth rate of US economy in 1st quarter = 18323.96 - 18223.76/18223.76 = 0.0054 or 0.54%

3) Real GDP produced in whole year 2017 = 17863.02 + 17995.15 + 18120.84 + 18223.76 = 72,202.77

4) real GDP producer in whole eyar 2016 = 70,636.74

5) Growth rate = 72202.77-70636.74/70636.74

= 0.02217 *100

= 2.21%

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