Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%. Calculate economic growth rate between 2020 and 2021. Answer: Economic growth rate =

Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%. Calculate economic growth rate between 2020 and 2021. Answer: Economic growth rate =

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 10WNG

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Question

Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and
2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%.
Calculate economic growth rate between 2020 and 2021.
Answer: Economic growth rate =

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