If GDP for a certain economy is $1,200 billion at the end of year 1 and $1,300 billion at the end of year 2, the economy's growth rate between the two years is: Please choose the correct answer from the following choices, and then select the submit answer button.a. 8.33 percent. b. 7.69 percent. c. 0.08 percent. d. 8.00 percent.

a. 8.33 percent

Explanation:

The computation of the economy's growth rate between the two years is presented below:

= (GDP at the end of year 2 - GDP at the end of year 1) ÷ (GDP at the end of year 1) × 100

= ($1,300 billion - $1,200 billion) ÷ ($1,200 billion)  × 100

= ($100 billion) ÷ ($1,200 billion)   × 100

= 8.33%

The economic growth rate is always expressed in percentage form

12

Explanation: