United States 2023 2024 Price Food $1/Ton Quantity 100,000 Tons Price $1.3/Ton Quantity $90,000 Tons Cars $10,000/Car 250 Cars $15,000/Car 200 Cars
United States 2023 2024 Price Food $1/Ton Quantity 100,000 Tons Price $1.3/Ton Quantity $90,000 Tons Cars $10,000/Car 250 Cars $15,000/Car 200 Cars
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question
What is the dierence between nominal GDP growth and real GDP growth based in 2023 prices
(a) 5.6%
(b) 20.3%
(c) 39.5%
(d)-60.4%
Compute the Chained Real GDP Growth between 2023 and 2024
(a)-19.64%
(b) 19.72%
(c)-30.24%
(d)-20.62%
![United States
2023
2024
Price
Food
$1/Ton
Quantity
100,000 Tons
Price
$1.3/Ton
Quantity
$90,000 Tons
Cars
$10,000/Car
250 Cars
$15,000/Car
200 Cars](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6035f1a2-2c03-490a-9469-88f7b64e730f%2F607b4d86-58c0-4bf4-b384-d98056725de6%2Fzg3txut_processed.png&w=3840&q=75)
Transcribed Image Text:United States
2023
2024
Price
Food
$1/Ton
Quantity
100,000 Tons
Price
$1.3/Ton
Quantity
$90,000 Tons
Cars
$10,000/Car
250 Cars
$15,000/Car
200 Cars
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