Apr 21 2012

GDP growth rate

Measures the percentage change in a nation’s GDP between one year and an earlier year. Equals Year 2′s GDP minus Year 1′s GDP, divided by year 1′s GDP times 100. For example: If in 2011 GDP = 120 billion, and in 2010 it equaled 100 billion. The GDP growth rate = (120-100)/100 = 0.2 x 100 = 20%


About the author:  Jason Welker teaches International Baccalaureate and Advanced Placement Economics at Zurich International School in Switzerland. In addition to publishing various online resources for economics students and teachers, Jason developed the online version of the Economics course for the IB and is has authored two Economics textbooks: Pearson Baccalaureate’s Economics for the IB Diploma and REA’s AP Macroeconomics Crash Course. Jason is a native of the Pacific Northwest of the United States, and is a passionate adventurer, who considers himself a skier / mountain biker who teaches Economics in his free time. He and his wife keep a ski chalet in the mountains of Northern Idaho, which now that they live in the Swiss Alps gets far too little use. Read more posts by this author


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