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Moonlight4u
Plunged by 6.9%, and then recovered by 9%...etc. Simple questions of percentage (%)! It's quite quzzical for me to understand these. Please let me know with an virtual example like ... (i.e. 50%-> 30%, 20% is just 20% in this sentence, etc) Case 1: But the drop in oil prices since mid-2008 slashed government oil revenues in 2009 by more than 50%, as compaed to 2008. -> Virtual example: Oil revenues 90% (2008) -> 40% (2009) (90-50 = 40) Am I right or wrong? Case 2: The global financial crises cut Danish GDP by 0.9% in 2008 and 4.3% in 2009. Virtual example: Danish GDP in 2008 : 0.9% -> in 2009: 4.3% Am I right or wrong? Case 3: GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999~2000. Virtual example: in terms of GDP, previously:7% --(minus 6.9%)-->1998: 0.1% --(plus 9%)-> 1999~2000: 9.1% Am I right or wrong? Case 4: South Korean GDP growh slowed to 2.2% in 2008 and declined 0.8% in 2009. Virtual example: South Korean GDP in 2008: 2.2% -> in 2009: 0.8% Am I right or wrong? Thanks for your help! I really appreciate it!
Feb 24, 2012 4:09 PM
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Answers · 7
Case 1: But the drop in oil prices since mid-2008 slashed government oil revenues in 2009 by more than 50%, as compaed to 2008. means in 2009, govt´s oil revenue is 50% less than 2008. example: if govt generated a revenue of $100 in 2008, in 2009 govt could generate 50% less i.e. $50 less. so in 2009, govt received only $50 Case 2: The global financial crises cut Danish GDP by 0.9% in 2008 and 4.3% in 2009. Suppose a danish was earning $100 in 2007. so in 2008, He was earning 0.9% less. So his income in 2008 is 100- (0.9% of 100)= 100 - 0.9= $ 99.1 in 2009 he was earning 4.3% less than 2008. so his earning in 2009 was 99.1 - (4.3% of 99.1)= 99.1 - 4.26 = $ 94.84 Case 3: GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999~2000. suppose GDP was 100 in 1997. so in 1997, it becomes, 100 - (6.9% of 100) = 93.1 GDP recovered in 1999-2000 by 9 % so in 1999-2000 it becomes 93.1 + (9% of 93.1)= 101.47 Case 4: South Korean GDP growh slowed to 2.2% in 2008 and declined 0.8% in 2009. here slowed means, earlier GDP was growing at a faster rate but it slowed down to 2.2% ..rest is just like above 3 calculations. I hope this helps.
February 24, 2012
Examples given by Faiz are correct. In economy, you say percentage increase or decrease relative to previous measure. GDP, PCI, revenue, growth, etc are measured annually. Naturally, it is implicitly hinted that an increase/decrease in a specific year is relative to the previous year's value. More examples: Statement: The 2010 GDP was increased by 5% Implicit meaning: The 2010 GDP was increased by 5% compared to the 2009 GDP Statement: In 2011, the company recorded double digit revenue growth for the first time since its inception Implicit meaning: In 2011, the company recorded revenue increase by more than 10% compared to its revenue in 2010
February 25, 2012
plunge = fall recovered = recover from fall, i.e rise It really is that simple.
February 24, 2012
Moonlight4u
Language Skills
Chinese (Mandarin), English, Khmer (Cambodian), Korean, Vietnamese
Learning Language
Chinese (Mandarin), English, Khmer (Cambodian), Vietnamese