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Suppose nominal GDP was $360 billion in 2002 and $450 billion in 2012. The appropriate price index was 100 in 2002 and 120 in 2012.
Suppose nominal GDP was $360 billion in 2002 and $450 billion in 2012. The appropriate price index was 100 in 2002 and 120 in 2012. It can be concluded that between 2002 and 2012 real GDP:
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Historical Perspectives On The American Economy Selected Readings
Authors: Robert Whaples, Dianne C Betts
1st Edition
0521466482, 9780521466486
