Consider the following data on the GDP of Z-product: i) What was the growth rate of nominal GDP between 2011 and 2012? ii) What was the growth rate of the GDP deflator between 2011 and 2012? iii) What was real GDP in 2011 measured in 2008 price? iv) What was real GDP in 2012 measured in 2008 price?
Consider the following data on the
i) What was the growth rate of nominal GDP between 2011 and 2012?
ii) What was the growth rate of the GDP deflator between 2011 and 2012?
iii) What was real GDP in 2011 measured in 2008 price?
iv) What was real GDP in 2012 measured in 2008 price?
v) What was the growth rate of real GDP between 2011 and 2012?
vi) Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.
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Consider the following data on the GDP of Z-product:
i) What was the growth rate of nominal GDP between 2011 and 2012?
ii) What was the growth rate of the GDP deflator between 2011 and 2012?
iii) What was real GDP in 2011 measured in 2008 price?
iv) What was real GDP in 2012 measured in 2008 price?
v) What was the growth rate of real GDP between 2011 and 2012?
vi) Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.
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