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- True/ False. Real GDP is a better indicator of economic growth than nominal GDP.Why do economists prefer to use real gross domestic product (RGDP) instead of nominal gross domestic product (NGDP) when measuring the economic growth of a country? Why is real GDP considered more relevant than the other?Why is Real GDP a better indicator of productive growth than Nominal GDP ?
- Explain in detail. Real GDP is a better measure of evaluating the economic growth of a nation than the nominal GDP.Why do we measure economic growth using Real GDP rather than Nominal GDP?suppose for a country the nominal GDP growth rate is 6 percent,CPI increassed from 100 to 104,and the population growth rate is 1.2 %.what is the real GDP per capita growth rate a- 2 percent b 0.8 percent c-11.2 percent d-3.2 percent
- Calculate growth rate of real GDP in 2019 compared to 2009. Show calculations.Level of GDP in year 0 equals 100. In the next four years rate of nominal annual GDP growth is stable and equals: 7% What will be nominal and real GDP after these four years? GDP deflator in these years is equals 120, 80, 120 and 75Suppose Botswana’s nominal GDP increases from $200 billion in 1998 to $250 billion in 1999. a) Explain why these figures may present a misleading measure of economic growth. b) What alternative method would provide a more accurate measure of economic growth over time ?
- Is there any other measure of economic growth instead of GDP. If any kindly explain.An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677 billion. In percentage terms, what is the growth rate? Please round your answer to the nearest whole number. growth rate:consider two sub-periods in the long period of 1980-2018. The sub-periods considered are 1980-1989 and 2003-2007. Write the avg. growth rates of GDP, capital stock, labor and TFP contribution to GDP growth for each period.
