Use the following table to calculate nominal and real (inflation-adjusted) growth in Country A's GDP per capita. Based on your calculation, which of the following is true? [Select one answer] YearNominal per capita GDPCPI (price index)Real per capital GDPYear 1100011000Year 215001.11363.64 There is not enough information to calculate the growth rateThe nominal growth is 36.36%The nominal growth is 50%The nominal growth rate is 500%

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Answered: Use the following table to calculate…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the following table to calculate nominal and real (inflation-adjusted) growth in Country A's GDP per capita. Based on your calculation, which of the following is true? [Select one answer]

Year	Nominal per capita GDP	CPI (price index)	Real per capital GDP
Year 1	1000	1	1000
Year 2	1500	1.1	1363.64

There is not enough information to calculate the growth rate
The nominal growth is 36.36%
The nominal growth is 50%
The nominal growth rate is 500%

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