The money growth rate is currently 3%, the real GDP growth rate is 5%, and the real interest rate is currently 0%. The economy is in the long-run. 1) what is nominal GDP growth? A) -2% B) 2% C)3% D)5% 2) what is the nominal interest rate? A) -2% B) 2% C)3% D)5% Please show works!

Macroeconomics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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Chapter9: An Introduction To Basic Macroeconomic Markets
Section: Chapter Questions
Problem 5CQ
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The money growth rate is currently 3%, the real GDP growth rate is 5%, and the real interest rate is currently 0%. The economy is in the long-run.

1) what is nominal GDP growth?

A) -2%

B) 2%

C)3%

D)5%

2) what is the nominal interest rate?

A) -2%

B) 2%

C)3%

D)5%

Please show works!

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