How much more output does the $1,100 billion economy in Mexico produce when GDP increases by 3 percent?

Question

Anton Nguyen

Business

3 August, 01:17

How much more output does the $1,100 billion economy in Mexico produce when GDP increases by 3 percent?

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Answers (1)

Know the Answer?

Teagan · Answer 1

The economy will produce $33 billion more output.

Explanation:

In order to calculate the increase in output we will have to calculate what 3 percent of its old output which is 1100 billion. So 3 percent of 1100 billion will be the increase in output.

0.03*1100 billion=33 billion

The economy will produce $33 billion more output.