EBK ECONOMICS TODAY
18th Edition
ISBN: 9780133920116
Author: Miller
Publisher: YUZU
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Question
Chapter 9, Problem 11P
To determine
The rate of increase of the country’s nominal GDP.
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Between the start of 2012 and the start of 2013, a country’s economic growth rate was 4 percent. Its population did not change during the year, nor did its price level. What was the rate of increase of the country’s nominal GDP during this one-year interval? Q
In 2021, a nation’s population was 10 million. Its nominal GDP was $40 billion, and its price index was 100. In 2022, its population had increased to 12 million, its nominal GDP had risen to $57.6 billion, and its price index had increased to 120. What was this nation’s economic growth rate during the year?
suppose for a country the nominal GDP growth rate is 6 percent,CPI increassed from 100 to 104,and the population growth rate is 1.2 %.what is the real GDP per capita growth rate
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