in a given year, suppose the real GDP per capita growth rate is 3.8 percent, the inflation rate is 2 percent, and the population growth rate is 12 percent. What is the nominal GDP growth rate Multiple Choice C 50 percent 3.8 percent 70 percent 58 percent

in a given year, suppose the real GDP per capita growth rate is 3.8 percent, the inflation rate is 2 percent, and the population growth rate is 12 percent. What is the nominal GDP growth rate Multiple Choice C 50 percent 3.8 percent 70 percent 58 percent

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

in a given year, suppose the real GDP per capita growth rate is 3.8 percent, the inflation rate is 2 percent, and the population growth rate is 12 percent. What is the nominal GDP growth rate?
Multiple Choice
50 percent
38 percent
70 percent
5.8 percent

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