Question
In the following Table you are given information on Real GDP and Nominal GDP. Compute the percentage change in Nominal GDP from 1970 to 1980
In the following Table you are given information on Real GDP and Nominal GDP.
Compute the percentage change in Nominal GDP from 1970 to 1980 (15 points) and the percentage change in Real GDP (15 points) from 1970 to 1980.
Year | Nominal GDP (In Current Prices) | Real GDP (Base Year 2000 Prices) |
1970 | 4,000 | 2,000 |
1980 | 6,000 | 4,500 |
Where do you attribute the difference between the two percentage changes?
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Principles of Economics
Authors: Robert Frank, Ben Bernanke
5th edition
73511404, 978-0073511405
