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d) If real GDP in Ourland in 2007 was $1.1 million, when real GDP in 2006 had been $1.0 million, this means that real GDP fell by 11 per cent. prices increased by 10 per cent. real GDP grew by 1.0 per cent. real GDP grew by 10 per cent.

d) If real GDP in Ourland in 2007 was $1.1 million, when real GDP in 2006 had been $1.0 million, this means that real GDP fell by 11 per cent. prices increased by 10 per cent. real GDP grew by 1.0 per cent. real GDP grew by 10 per cent.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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d) If real GDP in Ourland in 2007 was $1.1 million, when real GDP in 2006 had been $1.0 million, this means that real GDP fell by 11 per cent. prices increased by 10 per cent. real GDP grew by 1.0 per cent. real GDP grew by 10 per cent. e) To calculate the national unemployment rate you would need data on: the number of people currently employed. the number of people employed and unemployed. the number of people aged 15 years and over. the number of people currently not working and not looking for work.
Transcribed Image Text:d) If real GDP in Ourland in 2007 was $1.1 million, when real GDP in 2006 had been $1.0 million, this means that real GDP fell by 11 per cent. prices increased by 10 per cent. real GDP grew by 1.0 per cent. real GDP grew by 10 per cent. e) To calculate the national unemployment rate you would need data on: the number of people currently employed. the number of people employed and unemployed. the number of people aged 15 years and over. the number of people currently not working and not looking for work.
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