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Table below shows the nominal GDP of COUNTRY XYZ from 2010 to 2017. Calculate the annual growth rate of Country XYZ's nominal GDP from 2010
Table below shows the nominal GDP of COUNTRY XYZ from 2010 to 2017. Calculate the annual growth rate of Country XYZ's nominal GDP from 2010 to 2017. Supposing both population and the price level remained constant in COUNTRY XYZ in 2010-2017, in what year(s) were the people of the country likely to suffer a fall in their standard of living? Supposing population remained constant, and the price level increased 10 percent annually during 2010-2017, in what year(s) did they see a rise in their standard of living?
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