I must calculate the percentage of GDP for the second quarter of 2009 on the following. I don't know what that means to calculate the % of GDP for Durabul and nondurable goods. Any advice?
Real GDP
GDP 12,892.5
Durbale Goods 9,186.7
Nondurable Goods 1,071.2How do I calculate the percentage of GDP?
To get the percentage of GDP, simply divide each number by GDP.
For durable goods, 9,186.7/12,892.5=0.7126
For nondurable goods, 1,071.2/12,892.5=0.0831
Because the answers need to be in percentage terms, multiply each by 100:
durable goods 71.26%
nondurable goods 8.31%
I rounded to 2 decimal places. Your answers may be different if you round differently.
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