In 2002, Aptonville’s real GDP was $3750. In 2003, Aptonville’s real GDP increased to $4200. Calculate the growth rate (in % terms) of real GDP between 2002 and 2003.

Level of GDP in year 0 equals 100. In the next four years rate of nominal annual GDP growth is stable and equals: 7% a. What will be nominal and real GDP after these four years? b. GDP deflator in these years is equals 120, 80, 120 and 75

Calculate growth rate of real GDP in 2019 compared to 2009. Show calculations.

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QUESTION 6 10 pc You are given the following information for an economy. Real GDP Population 2018 $600,000 1000 2019 $620,000 1200 From the information calculate the following: • Calculate the real GDP per person for 2018 and 2019 • Calculate the economic growth rate from 2018-19 Make sure to show the steps. TT T v 3 (12pt) v T-E -E - - 2 S 回i Arial

Malaysia’s real GDP was $560 billion in 2010 and $570 billion in 2011. Malaysia’s population was 130.7 million in 2010 and 130.8 million in 2011.        i.   Calculate economic growth rate of Malaysia.       ii.   Calculate growth rate of real GDP per person of Malaysia.       iii.  How many years it takes for real GDP per person in Malaysia to double if the 2010 economic growth rate and population growth rate are maintained.

Suppose that real GDP was $2265 billion in 2018 and $2285 billion in 2019. Calculate the growth rate for this economy. Provide answer to 2 decimal points.

Explain the two ways to measure economic growth. Give examples

"In 2022, India's GDP was $3, 386.4 billion whereas its GNP was $3, 370.15 billion". Why should India be cautious aboutusing Gross Domestic Product (GDP) as the primary measure of economic growth? A. GDP does not account for thevalue of services, only goods. B. GDP provides an accurate reflection of income inequality. C. GDP does not consider changes in a country's population. D. GDP is unaffected by changes in government policies.

Why do economists prefer to use real gross domestic product (RGDP) instead of nominal gross domestic product (NGDP) when measuring the economic growth of a country? Why is real GDP considered more relevant than the other?