The US had a nominal GDP of 10.3 trillion dollars in 2000. If the US great at an average rate of 3.0 % per year then its compounded GDP at the end of 2015 would have been:
A. 16.3 Tr.
B. 14.7 Tr.
C. 16.0 Tr.
D. 15.6 Tr.
Answer: C
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All of the following will cause the reported growth rate in a country to change EXCEPT
A) changes in productivity. B) population changes. C) a shift of the production possibilities curve. D) changes in the number of poor people in the country.
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