Reference: Ref 6-2 (Table: Three-Product Economy) Suppose an economy produces only the three final goods listed in the table. What is the growth rate of real GDP in 2009 if 2009 is the base year?
A) -3.71 percent
B) 1 percent
C) -1.97 percent
D) -2.94 percent
Correct Answer:
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Q48: Q50: If nominal GDP is $5.43 (in billions) Q51: The difference between nominal GDP and real Q52: Q54: The difference between nominal and real GDP Q55: The growth rate of GDP is Q56: Economists prefer using real GDP because, other Q57: From 1948 to 2003 the United States Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A) GDP