Year Nominal GDP Price Index Real GDP Economic Growth in Real GDP 2018 20,500 98 2019 21,290 100 2020 21,800 103 2021 23,480 106 2022 24,820 104 Refer to the table above. Round real GDP to the nearest dollar, but round economic growth to the nearest tenth of a percent. In 2020, real GDP was and economic growth was percent, a) 20,050; -1.1 b) 21,290; 1.8 c) 21,165; -0.6 d) 22,230; 0.3

Year Nominal GDP Price Index Real GDP Economic Growth in Real GDP 2018 20,500 98 2019 21,290 100 2020 21,800 103 2021 23,480 106 2022 24,820 104 Refer to the table above. Round real GDP to the nearest dollar, but round economic growth to the nearest tenth of a percent. In 2020, real GDP was and economic growth was percent, a) 20,050; -1.1 b) 21,290; 1.8 c) 21,165; -0.6 d) 22,230; 0.3

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter7: Taking The Nation's Economic Pulse

Section: Chapter Questions

Problem 2CQ

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