Between 2013 and 2016, a country's nominal GDP grew by 18 percent and its inflation rate (based on the chain-weighted price index for GDP) was 11 percent. How fast did real GDP grow over this period?
What will be an ideal response?
The growth rate for real GDP would have been 1.18 / 1.11 = 1.06, so real GDP grew by 6 percent over the period.
Economics
You might also like to view...
Who operates and controls a corporation in its day-to-day activities?
A) employees B) stockholders C) the board of directors D) management
Economics
What is a production function? Write an equation for a typical production function, and explain what each of the terms represents
Economics
Refer to Figure 26.5. Which firm faces possible retaliation from rival firms?
A. Firm D. B. Firm A. C. Firm B. D. Firm C.
Economics
Why do current account deficits always match financial account inflows?
What will be an ideal response?
Economics