If real GDP grows at an annual 1.5%, then at approximately wh Round to one decimal place.

K An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in 2018 and 2019. If the base year is 2019, compare the growth rates of nominal GDP and real GDP. >>> Answer to 1 decimal place. The growth rate of nominal GDP in 2019 is 26.4 percent. The growth rate of real GDP in 2019 using the chained-dollar method is percent. In 2018 Item Bananas Coconuts In 2019 Item Bananas Coconuts Quantity 95 bunches 60 bags Quantity 112 bunches 68 bags Price $7 a bunch $12 a bag Price $12 a bunch $6 a bag

C                      I                         G                               NX              Price                                                              Yr1                               1000                   156                     560                           52                    4   Yr2                                1300                  159                     600                           52                    5   Yr3                                 2000                  169                    690                           53                   6   Yr4                               2900                   180                     880                           53                    7   -What will the percent rate of change in real GDP be from year 1 to year 2, from year 2 to year 3, and from year 3 to year 4. (round to the whole number for all calculations and final answers) -State how long it will take for real GDP to double in size.

Use the following information to calculate the growth rate. Round to two decimal places. Nominal GDP Year 1:  7.5 trillion        Real GDP Year 1:  9.2 trillion Nominal GDP Year 2:  7.9 trillion        Real GDP Year 2:  9.4 trillion