Question
1. Suppose rate of inflation for 2010 was 10 percent. If the CPI for 2010 was 106, the CPI in 2009 must have been ___________.
1. Suppose rate of inflation for 2010 was 10 percent. If the CPI for 2010 was 106, the CPI in 2009 must have been ___________.
2. If Hyunju's annual real income doubles every 24 years, then her average annual real income growth rate must be __________ percent.
3. Suppose that Hyunju's nominal income rises by 5 percent and the consumer price index rises by 6 percent. Then, Hyunju's real income will change by ___________ percent.
4.Over a year, a nation's nominal GDP rose by 9 percent while the price index changed from 94 to 105. Then, the real GDP of this nation changed by ___________ percent.
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