6. USAEO Quantitative and Graphical Analysis

Growth Rates And Index Numbers — Quiz

Test your understanding of growth rates and index numbers with 5 practice questions.

Practice Questions

Question 1

If a country's GDP grew from $2{,}000$ billion to $2{,}200$ billion in one year, what is the annual growth rate of GDP?

Question 2

An index number for the price level was 120 in year 1 and increased to 132 in year 2. What was the percentage increase in the price level between these two years?

Question 3

A certain economy’s real GDP index was 150 in year 1 and 165 in year 2. What was the growth rate of real GDP?

Question 4

A price index was 100 in the base year and 125 in the current year. What does the index number 125 represent?

Question 5

If the Consumer Price Index (CPI) increased from 200 to 210 over one year, what was the inflation rate during that year?