In 2018, nominal gross domestic product (GDP) in the United States grew 5.2% However, inflation was 2.4%. What was the real GDP growth rate? O 0.% O 5.0 7.7% O 28% O 2.2%
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- Assume that John has a car loan with a nominal interest rate of 4%. If the actual inflation rate is 3%, then the real rate is 3% 4% O 7% O 1%Suppose that the consumer price index at year-end 2008 was 140 and by year-end 2009 had risen to 154. What was the inflation rate during 2009? 7.1 percent 10 percent O 14.2 percent O 9.1 percentSuppose nominal GDP for an economy rose from $120 billion in 2016 to $150 billion in 2017 and that the inflation rate over the same period was 5 percent. By what percentage did real GDP increase between 2016 and 2017? O 40% O 35% O 20% O 30% O 25%
- In 2008 the price index was calculated at 137.9 with 2003 as the base year. In 2009 the price index increased to 148.7. What was the inflation from 2008-2009? O 7.8% O 7.3% O 10.8%The price index was 140 in one year and 148.4 in the next year. What was the inflation rate? 8.4 percent O 6.0 percent O 2.4 percent O 4.2 percentQuestion 3 1. Suppose that inflation is 5% between years 1 and 2. Now suppose your hourly wage is $20/hour. What will your wage have to be for your real wage to stay the same from year 1 to year 2? O 20.10 O 30 O 25.75 O 21
- Question 2 The GDP deflator in year 4 is 120 and the GDP deflator in year 5 is 130. The rate of inflation between years 4 and 5 is O -10%. O 7.7%. O 8.33%. O 10%.Suppose the consumer price index (CPI) stands at 250 this year. If the inflation rate is 10 percent, then next year's CPI will equal: O 260 $260 O $275 O 275Refer to the information provided in Table 7.4 below to answer the questions that follow. Table 7.4 Good A Good B Good C Units Purchased 5 10 4 2010 $1.00 $2.00 $4.00 Price per Unit in 2011 $1.50 $2.50 $4.50 Refer to Table 7.4. If 2011 is the base year, the inflation rate between 2010 and 2011 is O 23.2%. O 20.4%. O 18.8%. O 14.1%. 2012 $1.50 $3.00 $5.00
- "If the consumer price index was 102 in the base year and 117 in the following year, the inflation rate was" O 15 percent. 14.7 percent. 7 percent. O 1.07 percent.Suppose the GDP deflator was 200 in 2008 and 190 in 2009. In addition, nominal GDP was 1% lower in 2009 than in 2008. Given this information, the approximate. rate of real GDP growth in 2009 was: O 3% 4% O 5% 6%If the CPI is 109 one year and 112 the next, the annual rate of inflation as measured by the CPI is approximately: O 1.45% O 3.6% O 2.67% O 2.75%