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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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