MEASURING PRODUCTION AND INCOME, Chapter 2

7.2.1 Calculating growth rates. A growth rate is the change in a variable between time t and time (t +1) in relation to its initial value in t. For example, if income rises from 200 to 208 during the course of 12 months the (annual) growth rate is (208-200)/200 = .04 or 4%. ................
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