Given the following data: Nominal GDP ($ billion) Price Population (million) Year Index 2018 60 12 100 2019 114 15 140 Calculate this nation's economic growth rate during the year. The nation's economic growth rate is %. (Enter your response rounded to two decimal places.)

Given the following data: Nominal GDP ($ billion) Price Population (million) Year Index 2018 60 12 100 2019 114 15 140 Calculate this nation's economic growth rate during the year. The nation's economic growth rate is %. (Enter your response rounded to two decimal places.)

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 10WNG

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Question

Given the following data:
Nominal GDP
Population
(million)
Price
Year
($ billion)
Index
2018
60
12
100
2019
114
15
140
Calculate this nation's economic growth rate during the year.
The nation's economic growth rate is %. (Enter your response rounded to two decimal places.)

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