Given the below information, find the percent rate of change in real GDP from the first to the second quarter then from the second to the third quarter then from the third to the fourth quarter.
GDP = C + Ig + G + NX Price
Q1 300 70 170 30 $4
Q2 370 130 230 30 $5
Q3 430 170 270 30 $6
Q4 570 230 370 30 $7
Calculate the GDP for
Q1 = C + I + G + NX = 300+70+170+30 =570
Calculate the GDP for
Q2 = C + I + G + NX = 370+130+230+30 =760
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