Suppose the GDP deflator was 200 in 2008 and 190 in 2009. In addition, nominal GDP was 1% lower in 2009 than in 2008. Given this information, the approximate, rate of real GDP growth in 2009 was: 3% 4% 5% 6%

Suppose the GDP deflator was 200 in 2008 and 190 in 2009. In addition, nominal GDP was 1% lower in 2009 than in 2008. Given this information, the approximate, rate of real GDP growth in 2009 was: 3% 4% 5% 6%

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 18P

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Question

Suppose the GDP deflator was 200 in 2008 and 190 in 2009. In addition, nominal
GDP was 1% lower in 2009 than in 2008. Given this information, the approximate.
rate of real GDP growth in 2009 was:
O
3%
4%
O 5%
6%

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