Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%. Calculate economic growth rate between 2020 and 2021. Answer: Economic growth rate= %

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
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Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and
2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%.
Calculate economic growth rate between 2020 and 2021.
Answer: Economic growth rate =
%
Transcribed Image Text:Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020 and 2021, inflation rate is 6% and population growth rate is 2%. Calculate economic growth rate between 2020 and 2021. Answer: Economic growth rate = %
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