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In 2021, a nation's population was 10 million. Its nominal GDP was $40 billion, and its price index was 100. In 2022, its population had
- In 2021, a nation's population was 10 million. Its nominal GDP was $40 billion, and its price index was 100. In 2022, its population had increased to 12 million, its nominal GDP had risen to $57.6 billion, and its price index had increased to 120. What was this nation's economic growth rate during the year?
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Microeconomics
Authors: David Laibson, John List
Global Edition 1st Edition
1292079576, 978-1292079578
