Suppose that in a particular country, nominal gross domestic product(GDP) grew by 8 percent and the GDP deflator increased by 10 percent. The country's growth rate of real GDP would be approximately equal to?

Suppose that in a particular country, nominal gross domestic product(GDP) grew by 8 percent and the GDP deflator increased by 10 percent. The country's growth rate of real GDP would be approximately equal to?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 3P

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Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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