Question
If the nominal GDP rise by 5% and the rate of inflation in the economy is 3% then: A. The exact real GDP is 2%.
If the nominal GDP rise by 5% and the rate of inflation in the economy is 3% then:
A. The exact real GDP is 2%. (No sure )
B. The exact real GDP is 8%.
C. The GDP has decreased.
D. The total output in the economy it's negative.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
International Financial Reporting Standards An Introduction
Authors: Belverd Needles, Marian Powers
2nd edition
053847680X, 978-1111793234, 1111793239, 978-0538476805
