Refer to the macroeconomic data from the Philippine Statistics Authority provided below to answer the next two (2) questions: Year 2019 2020 2021 GDP in million Php (Current prices) 19,517,863 17,951,573 19,410,568 GDP in million Php (2018 prices) 19,382,751 17,537,843 18,538,053 CPI (2012-100) 120.2 123.3 128.8 2. What is the growth rate of the Philippine economy by 2021? a The nominal GDP growth rate is 8.12% while the real GDP growth rate is 5.70%. b. The nominal GDP growth rate is 5.70% while the real GDP growth rate is 8.12%. c. The nominal GDP growth rate is -8.12% while the real GDP growth rate is 5.70%. d. None of the above.
Refer to the macroeconomic data from the Philippine Statistics Authority provided below to answer the next two (2) questions: Year 2019 2020 2021 GDP in million Php (Current prices) 19,517,863 17,951,573 19,410,568 GDP in million Php (2018 prices) 19,382,751 17,537,843 18,538,053 CPI (2012-100) 120.2 123.3 128.8 2. What is the growth rate of the Philippine economy by 2021? a The nominal GDP growth rate is 8.12% while the real GDP growth rate is 5.70%. b. The nominal GDP growth rate is 5.70% while the real GDP growth rate is 8.12%. c. The nominal GDP growth rate is -8.12% while the real GDP growth rate is 5.70%. d. None of the above.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
![Refer to the macroeconomic data from the Philippine Statistics Authority provided below
to answer the next two (2) questions:
Year
2019
2020
2021
GDP in million Php
(Current prices)
19,517,863
17,951,573
19,410,568
GDP in million Php
(2018 prices)
19,382,751
17,537,843
18,538,053
CPI
(2012-100)
120.2
123.3
128.8
2. What is the growth rate of the Philippine economy by 2021?
a The nominal GDP growth rate is 8.12% while the real GDP growth rate is 5.70%.
The nominal GDP growth rate is 5.70% while the real GDP growth rate is 8.12%.
c. The nominal GDP growth rate is -8.12% while the real GDP growth rate is 5.70%.
d. None of the above.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F507026b5-9e4e-4a3e-9e0b-b8359ab60806%2F4c4e06e7-b490-4c73-9db5-7d8df035c0d6%2F4kr6uxr_processed.png&w=3840&q=75)
Transcribed Image Text:Refer to the macroeconomic data from the Philippine Statistics Authority provided below
to answer the next two (2) questions:
Year
2019
2020
2021
GDP in million Php
(Current prices)
19,517,863
17,951,573
19,410,568
GDP in million Php
(2018 prices)
19,382,751
17,537,843
18,538,053
CPI
(2012-100)
120.2
123.3
128.8
2. What is the growth rate of the Philippine economy by 2021?
a The nominal GDP growth rate is 8.12% while the real GDP growth rate is 5.70%.
The nominal GDP growth rate is 5.70% while the real GDP growth rate is 8.12%.
c. The nominal GDP growth rate is -8.12% while the real GDP growth rate is 5.70%.
d. None of the above.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education