Last year, a country had a NGDP of $4 million, and this year it had a NGDP of $4.2 million. During the last year, inflation was 2%. What was the growth in RGDP? 2% 3% -3% 5%
Last year, a country had a NGDP of $4 million, and this year it had a NGDP of $4.2 million. During the last year, inflation was 2%. What was the growth in RGDP? 2% 3% -3% 5%
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 12CQ
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![Last year, a country had a NGDP of $4 million, and this year it had a NGDP of $4.2
million. During the last year, inflation was 2%. What was the growth in RGDP?
2%
3%
-3%
5%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd370fc79-672a-41b8-9f3e-2ed793a0a9ba%2F453d06e4-3ef1-43f1-971e-571bcfe8424e%2Fp2cyfgk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Last year, a country had a NGDP of $4 million, and this year it had a NGDP of $4.2
million. During the last year, inflation was 2%. What was the growth in RGDP?
2%
3%
-3%
5%
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