A nation's real GDP was $250 billion in Year 1 and $270 billion in Year 2. Its population was 120 million in Year 1 and 125 million in Year 2. What is its real GDP growth rate in Year 2?
A nation's real GDP was $250 billion in Year 1 and $270 billion in Year 2. Its population was 120 million in Year 1 and 125 million in Year 2. What is its real GDP growth rate in Year 2?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 10WNG
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