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Calculate GDP In a fictional economy, GDP in 2008 (valued at 2008 prices) was $1.5 trillion. In 2009, GDP (valued at 2009 prices) was $1.75

Calculate GDP In a fictional economy, GDP in 2008 (valued at 2008 prices) was $1.5 trillion. In 2009, GDP (valued at 2009 prices) was $1.75 trillion. However, inflation (the increase in the general level of prices) was 6% between 2008 and 2009. The price index in 2008 is 100%. 1. What is the nominal GDP growth rate? 2. What is the real GDP in 2009? 3. What is the real GDP growth rate

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