Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%. Calculate economic growth rate between 2020 and 2021. Answer: Economic growth rate =
Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%. Calculate economic growth rate between 2020 and 2021. Answer: Economic growth rate =
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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![Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and
2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%.
Calculate economic growth rate between 2020 and 2021.
Answer: Economic growth rate =](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3b8e68f-3309-475d-aa8e-1dccd17db797%2Ffaa29e02-decd-4923-a3fc-90914dfc1f11%2F94cphpq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and
2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%.
Calculate economic growth rate between 2020 and 2021.
Answer: Economic growth rate =
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