The following information shows the real GDP and the price level in 2015 and 2022. Real GDP in 2015: 17.500 billion Price level in 2015:
The following information shows the real GDP and the price level in 2015 and 2022. Real GDP in 2015: 17.500 billion Price level in 2015: 237 Real GDP in 2022: 19,700 billion Price level in 2022: 295 a. (2 points) Calculate the total percent change in the price level from 2015 to 2022. Round the percentage to two decimal places. b. (2 points) Calculate the annual growth rate of real GDP (note: this is 8 full years), Round the percentage to two decimal places
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