Level of GDP in year 0 equals 100. In the next four years rate of nominal annual GDP growth is stable and equals: 7% a. What will be nominal and real GDP after these four years? b. 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% a. What will be nominal and real GDP after these four years? b. GDP deflator in these years is equals 120, 80, 120 and 75
Chapter16: Economic Growth
Section: Chapter Questions
Problem 11E
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