Suppose that nominal GDP was $50 million in 2020 in country A. In 2021, nominal GDP was $51 million. The price level rose 1.3% between 2020 and 2021, and population growth was 0.1% between 2020 and 2021.

Use the given information to answer questions 8 - 12.

Flag question: Question 8

Question 81 pts

Calculate the nominal GDP growth rate.
Answer: The nominal GDP growth rate = _________%

Flag question: Question 9

Question 91 pts

Calculate the real GDP growth rate
Answer: The real GDP growth rate = _________%

Flag question: Question 10

Question 101 pts

Calculate the economic growth rate
Answer: The economic growth rate = _________%

Flag question: Question 11

Question 111 pts

Suppose country A maintains the same economic growth rate, how long does it take for the real GDP per capita to double? (Round your answer to nearest first decimal place.)
Answer: It will take ________ years for the real GDP per capita to double.

Flag question: Question 12

Question 121 pts

The government of country A works hard to maintain political stability. This is related to which factor of economic growth? [ Select ] ["Natural resources", "Physical capital", "Human capital", "Technology", "Institutions"]