Nominal GDP was $9,500 billion in Year 1 and $10,000 billion in Year 2.The GDP price index was 170 in Year 1 and 175 in Year 2.Between Years 1 and 2, the rate of growth in real GDP was approximately:
A) 1.6 percent.
B) 2.3 percent.
C) 4.4 percent.
D) 5.3 percent.
Correct Answer:
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