8. Etrurias nominal GDP rose from $42 billion in 2013 to $45 billion in 2014. During the...

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8. Etruria’s nominal GDP rose from $42 billion in 2013 to $45 billion in 2014. During the same period, its inflation rate was 5 percent (calculate answers to one decimal place).

a) By what percentage did nominal GDP increase between 2013 and 2014?

b) By what percentage did real GDP increase between 2013 and 2014?

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Principles Of Macroeconomics

ISBN: 9780226818399

8th Edition

Authors: Sayre, J.E.; Morris, A.J.

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Question Posted: Nov 11, 2024 02:00 AM

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8. Etrurias nominal GDP rose from $42 billion in 2013 to $45 billion in 2014. During the...

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Principles Of Macroeconomics

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