Answered: A country’s real GDP rose from $500 to…

A country’s real GDP rose from $500 to $530 while its nominal GDP rose from $600 to $700. What was this country’s inflation rate?16.7%.10.0%.15.0%.- 9.1%

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter7: Inflation

Section: Chapter Questions

Problem 1SQ

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Question

100%

A country’s real GDP rose from $500 to $530 while its nominal GDP rose from $600 to $700. What was this country’s inflation rate?
16.7%.
10.0%.
15.0%.
- 9.1%

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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