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 75

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 75

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 3E

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Question

Level of GDP in year 0 equals 100. In the next four years rate of nominal annual GDP growth is stable and equals: 7%

1. What will be nominal and real GDP after these four years?
2. GDP deflator in these years is equals 120, 80, 120 and 75

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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