Calculate the annual growth rate of gdp in second quarter

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Reference no: EM13213022

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.3 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent. These numbers (in bold) can be calculated by referring to 2 tables in Section 1 and the growth formula you learnt in class. a. Identify the 2 tables needed for this calculation. b. What is the formula used to compute the annual growth rate of a variable? c. Use the formula and the relevant numbers from the tables you mentioned in (a) to calculate the annual growth rate of GDP in the second and first quarter.

Reference no: EM13213022

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