Hugs Doges Year Price Quantity Price Quantity 1990 $13 $500 $1000 10 3 2020 $13 75 2 What was the GDP in 1990? 20. (continued) What was the per year nominal GDP growth rate between 1990 and 2020? (Give your answer as a decimal.)

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Q: 5. Refer to Table 1. What is the value of Real GDP in 2007? А. 1000 В. 1560

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A: Economic growth rate shows the difference real GDP of the economy .

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A: Real GDP:2011 Real GDP can be calculated as follows:

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A: Real GDP measures the value of goods and services produced within the country at base year prices.

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A: GDP deflator =Nominal GDPReal GDPx100

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A: GDP Deflator is an important concept of inflation in the study of Macroeconomics. GDP Deflator is…

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Q: Year Nominal GDP Real GDP Price Index 1 5,200 4,800 5,500 112 3 5,740 5,000 Refer to the table. (GDP…

A: The formula is:Real GDP = nominal GDPPrice index×100  =5500112*100=4910.71429=4910.71

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Q: 1 a. US GDP was 14,419 billion in 2009 and 14,964 billion in 2010. What was the percentage increase…

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A: From the above given information, the answers are below:

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