Multiple Choice
The government reports that "GDP increased by 1.6 percent in the last quarter." What does this statement mean?
A) GDP increased at an annual rate of 6.4 percent during the last quarter.
B) GDP increased at an annual rate of 4.8 percent during the last quarter.
C) GDP increased at an annual rate of 1.6 percent during the last quarter.
D) GDP increased at an annual rate of 0.4 percent during the last quarter.
Correct Answer:
Verified
Correct Answer:
Verified
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