In 2010, the nominal GDP of some country was 35G$. In 2020, the GDP of that country was 52G$. Supposing that the price level rose by 28% during that period, what is the real GDP in 2020, expressed in 2010 dollars? (Express your answer in G$) Answer: 72.2 x (41)
In 2010, the nominal GDP of some country was 35G$. In 2020, the GDP of that country was 52G$. Supposing that the price level rose by 28% during that period, what is the real GDP in 2020, expressed in 2010 dollars? (Express your answer in G$) Answer: 72.2 x (41)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 12CQ
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