Suppose that nominal GDP was $8 trillion in 2040 in Bedrock. In 2050, nominal GDP was $10 trillion in Bedrock. The price level rose 17.0% between 2040 and 2050, and population growth was 11.0%. Between 2040 and 2050 in Bedrock, nominal GDP growth was % and economic growth was %. Give your answers to one decimal place.

Suppose that nominal GDP was $8 trillion in 2040 in Bedrock. In 2050, nominal GDP was $10 trillion in Bedrock. The price level rose 17.0% between 2040 and 2050, and population growth was 11.0%. Between 2040 and 2050 in Bedrock, nominal GDP growth was % and economic growth was %. Give your answers to one decimal place.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 4WNG

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