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

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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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
Transcribed Image Text: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
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