Description of this paper

Suppose nominal GDP

Description

solution


Question

Suppose nominal GDP in 2005 was $14 trillion and in 2006 it was $15 trillion. The general price index in 2005 was 100 and in 2006 it was 103. Between 2005 and 2006 real GDP rose by what percent?

 

Paper#28076 | Written in 18-Jul-2015

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