Answer:
10%; 16%
Explanation:
Given that,
Real GDP in the first quarter of 2016 = $10 billion
Real GDP in the first quarter of 2017 = $11 billion
Increased from the fourth quarter of 2016 to the first quarter of 2017 = 4%
Growth rate from the first quarter of 2016 to first quarter of 2017:
= [tex]\frac{GDP_{2017}-GDP_{2016} }{GDP_{2016}}\times 100[/tex]
= [tex]\frac{11-10 }{10}}\times 100[/tex]
= 10%
Real GDP growth rate is as follows:
= 4% × 4
= 16%
