Question
1A. Assume the table below to answer the questions. Nominal GDP ($ ) GDP Deflator Population 2019 591 98 15 2020 629 101.4 16 a.
1A. Assume the table below to answer the questions.
Nominal GDP ($ ) | GDP Deflator | Population | |
2019 | 591 | 98 | 15 |
2020 | 629 | 101.4 | 16 |
a. What is the real GDP in 2019 measured in 2019 prices?
b. What is the real GDP in 2020 measured in 2019 prices?
c. What is the growth rate of real GDP?
d. What is the real per capita income in 2020?
e. Why growth rate of nominal GDP is higher than the growth rate real GDP?
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Fundamentals Of Human Resource Management Functions Applications And Skill Development
Authors: Robert N. Lussier, John R. Hendon
2nd Edition
1544324480, 978-1544324487
