Suppose that the nominal GDP in 2006 was $100 billion, and in 2019 it was $350 billion. The GDP deflator in 2006 was 100, and in 2019, it was 200. Between 2006 and 2019, real GDP rose by: 50 percent 57.14 percent 75 percent 100 percent none of the above

Suppose that the nominal GDP in 2006 was $100 billion, and in 2019 it was $350 billion. The GDP deflator in 2006 was 100, and in 2019, it was 200. Between 2006 and 2019, real GDP rose by: 50 percent 57.14 percent 75 percent 100 percent 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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Question

Suppose that the nominal GDP in 2006 was $100 billion, and in 2019 it was $350
billion. The GDP deflator in 2006 was 100, and in 2019, it was 200. Between 2006
and 2019, real GDP rose by:
50 percent
57.14 percent
75 percent
100 percent
none of the above

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