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Assume that the year 1995 is the base year in the country of Economix. The nominal GDP in the year 1995 is $500,000. Now assume
Assume that the year 1995 is the base year in the country of Economix. The nominal GDP in the year 1995 is $500,000. Now assume that in the year 1998, the nominal GDP of Economix is $450,000 and the GDP deflator is 90. How much economic growth has Economix experienced between 1995 and 1998? 5% -10% 10% 0%
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The Lever Of Riches Technological Creativity And Economic Progress
Authors: Joel Mokyr
1st Edition
0195074777, 9780195074772
