To determine the correct growth rate of real GDP for the year 1930, we'll follow the steps to calculate the growth rate correctly.
1. Identify the real GDP values for the years 1929 and 1930. According to the data:
- Real GDP in 1929 = 103.6 billion dollars
- Real GDP in 1930 = 91.2 billion dollars
2. Utilize the growth rate formula for real GDP:
[tex]\[
\text{Growth Rate} = \left( \frac{\text{GDP in current year} - \text{GDP in previous year}}{\text{GDP in previous year}} \right) \times 100
\][/tex]
3. Plug in the values:
[tex]\[
\text{Growth Rate} = \left( \frac{91.2 - 103.6}{103.6} \right) \times 100
\][/tex]
4. Calculate the numerator (the difference in GDP values):
[tex]\[
91.2 - 103.6 = -12.4
\][/tex]
5. Divide the numerator by the GDP value from the previous year:
[tex]\[
\frac{-12.4}{103.6} \approx -0.11969111969111962
\][/tex]
6. Convert the result into a percentage by multiplying by 100:
[tex]\[
-0.11969111969111962 \times 100 \approx -11.969111969111962
\][/tex]
7. The correct growth rate of real GDP for the year 1930 is approximately -11.97%.
Given the calculated growth rate, none of the provided options a), b), c), or d) correspond directly to -11.97%. Therefore, it's likely that there might be a transcription error in the options presented or the options might not have been updated to the correct value. However, based on our calculation, the growth rate of real GDP for 1930 is approximately -11.97%.
