1.. Consider the following GDP data (IMF, WEO Database) China U.S.A. Nominal Real | Nominal Real (billions (billions of (billions (billions of of Yuan) 2015 Yuan) | of US$) 2012 US$) 2019 99070.8 89451.0 | 21372.6 19032.7 2020 1 102562.8 91457.9 | 20893.8 18384.7 2021 112585.4 98847.3 | 22997.5 19428.4 Calculate nominal and real growth rates, and the inflation rates for 2020 and 2021
1.. Consider the following GDP data (IMF, WEO Database) China U.S.A. Nominal Real | Nominal Real (billions (billions of (billions (billions of of Yuan) 2015 Yuan) | of US$) 2012 US$) 2019 99070.8 89451.0 | 21372.6 19032.7 2020 1 102562.8 91457.9 | 20893.8 18384.7 2021 112585.4 98847.3 | 22997.5 19428.4 Calculate nominal and real growth rates, and the inflation rates for 2020 and 2021
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![1. .
Consider the following GDP data (IMF, WEO Database) China U.S.A. Nominal Real | Nominal Real (billions
(billions of (billions (billions of of Yuan) 2015 Yuan) | of US$) 2012 US$) 2019 99070.8 89451.0 | 21372.6 19032.7 2020
102562.8 91457.9 | 20893.8 18384.7 2021 112585.4 98847.3 | 22997.5 19428.4 Calculate nominal and real growth rates,
and the inflation rates, for 2020 and 2021.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F417208fd-b133-446a-9887-9bbc634a7a56%2F5040d476-404b-4bcf-ae1a-494533d555b6%2Fo1s77ah.jpeg&w=3840&q=75)
Transcribed Image Text:1. .
Consider the following GDP data (IMF, WEO Database) China U.S.A. Nominal Real | Nominal Real (billions
(billions of (billions (billions of of Yuan) 2015 Yuan) | of US$) 2012 US$) 2019 99070.8 89451.0 | 21372.6 19032.7 2020
102562.8 91457.9 | 20893.8 18384.7 2021 112585.4 98847.3 | 22997.5 19428.4 Calculate nominal and real growth rates,
and the inflation rates, for 2020 and 2021.
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