A news report uses the following data.
| Year | Annual change in real GDP |
|---|---|
| Year 1 | +2.4% |
| Year 2 | +0.6% |
The report concludes that the country produced less in Year 2 than in Year 1.
Explain why the news report's conclusion is incorrect.
78 exam-style questions on OCR GCSE Economics 3.1 Economic growth, covering 3.1.1 What is economic growth, 3.1.2 Calculate economic growth using GDP, 3.1.3 Explain how growth is measured, 3.1.4 Analyse GDP data, 3.1.5 Determinants of economic growth, and 3.1.6 Costs and benefits of economic growth. Each one has a worked solution and a mark scheme showing where the marks go.