In Panel A that nominal GDP is larger than real GDP. Explain why nominal GDP is larger than real GDP in 2022. 1967 to 19681968 to 19691999-20002000-20012020 to 20212021 to 2022% Change inNominal GDP =9.4 =8.26.43.210.79.2% Change in GDPPrice Index +4.3 +4.92.32.34.57% Change in RealGDP4.93.14.115.92.1

GDP refers to the total monetary value of all final goods and service that is produced by an economy…

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In Panel A that nominal GDP is larger than real GDP. Explain why nominal GDP is larger than real GDP in 2022

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 11SQ

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In Panel A that nominal GDP is larger than real GDP. Explain why nominal GDP is larger than real GDP in 2022.

1967 to 1968
1968 to 1969
1999-2000
2000-2001
2020 to 2021
2021 to 2022
% Change in
Nominal GDP =
9.4 =
8.2
6.4
3.2
10.7
9.2
% Change in GDP
Price Index +
4.3 +
4.9
2.3
2.3
4.5
7
% Change in Real
GDP
4.9
3.1
4.1
1
5.9
2.1

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