Suppose that nominal GDP rose 10 percent in your country last year, while prices rose 5 percent.

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Suppose that nominal GDP rose 10 percent in your country last year, while prices rose 5 percent. What was the growth rate of real GDP?

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Foundations of Mathematical Economics

ISBN: 978-0262531924

1st edition

Authors: Michael Carter

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Question Posted: May 02, 2016 11:50 AM

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Suppose that nominal GDP rose 10 percent in your country last year, while prices rose 5 percent.

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If your answer is 5 per cent obtained by subtracting the inflation rate from the growth rate of nomi...View the full answer

Foundations of Mathematical Economics

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