In 2011 a country had a real GDP of $13.89 trillion and GDP deflator of 110 . In 2012 it had a nominal GDP of $17.8 trillion and real GDP of 14.24 trillion. What is the rate of inflation in 2012?
13.6%
You might also like to view...
According to a World View article titled "Trading Chickens for Diapers," the Venezuelan economy turned to a barter system because
A. A system of barter is typically more efficient than a monetary system. B. It is usually easier to measure the value of goods in terms of other goods rather than cash. C. The movement to a cashless society was the next step in the movement toward the ideal communist state. D. The bolivar has become worthless.
The Fed purchases German bonds from commercial banks. Which of the following best describes the impact on the Fed's and the Banking System's balance sheets resulting from this transaction?
A. The Fed's assets and liabilities do not change, only the compositions of the assets change. For the banking system, assets and liabilities increase. B. The Fed's assets and liabilities increase, the banking systems assets and liabilities decrease. C. The Fed's assets increase and its liabilities increase, for the banking system, the value of assets and liabilities do not change, only the composition of assets changes. D. The Fed's assets increase and its liabilities decrease, for the banking system, the value of assets and liabilities do not change, only the composition of assets changes.
Which of the following economies is experiencing an economic boom?
a. The U.S. actual real GDP is the same as the nation’s potential real output. b. The actual real GDP in Mexico is lower than the potential real GDP. c. The French actual real GDP is less than the potential real output. d. The actual real GDP in Canada is greater than the potential real GDP.
In the short run if the tax rate on asset income rises, then in the market clearing model:
a. household current consumption will fall compared to future consumption. b. the after tax real interest rate rises. c. current investment will fall. d. all of the above.