Real GDP in 2015 is $100b and real GDP in 2016 is $110b. In 2016, nominal GDP grows by 3%. What can you say about inflation rate? a. Not enough information to say anything b. Inflation is -7% c. Inflation is constant d. Inflation is 13% e. Inflation is 10
Real GDP in 2015 is $100b and real GDP in 2016 is $110b. In 2016, nominal GDP grows by 3%. What can you say about inflation rate? a. Not enough information to say anything b. Inflation is -7% c. Inflation is constant d. Inflation is 13% e. Inflation is 10
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 4.10P
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Real GDP in 2015 is $100b and real GDP in 2016 is $110b. In 2016, nominal GDP grows by 3%. What can you say about inflation rate?
a. Not enough information to say anything
b. Inflation is -7%
c. Inflation is constant
d. Inflation is 13%
e. Inflation is 10%
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