If nominal GDP rises from $100 trillion to 20 trillion, while the GDP deflator rises from 2.0 2.2, the percentage change in real GDP is proximately equal to -10%.
If nominal GDP rises from $100 trillion to 20 trillion, while the GDP deflator rises from 2.0 2.2, the percentage change in real GDP is proximately equal to -10%.
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
Section7.4: Real Gdp
Problem 2ST
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![If nominal GDP rises from $100 trillion to
$120 trillion, while the GDP deflator rises from 2.0
to 2.2, the percentage change in real GDP is
approximately equal to
A) -10%.
B) 0%.
C) 10%.
D) 20%.
E) 30%.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0f236841-1759-430d-9465-8e7c1da810d7%2F3606bea0-4dcb-4f69-911c-9594a1625d20%2F24zge8c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If nominal GDP rises from $100 trillion to
$120 trillion, while the GDP deflator rises from 2.0
to 2.2, the percentage change in real GDP is
approximately equal to
A) -10%.
B) 0%.
C) 10%.
D) 20%.
E) 30%.
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