Assume the inflation rate in 2019 is 1.2%. If the nominal GDP grew 3.3% and nominal wages grew 2.1%, what are the approximate real growth rates of GDP and wages?
A) 2.0%; .4%
B) 2.0%; .5%
C) 2.1%; .5%
D) 2.1%; .9%
E) 2.1%; .6%
Correct Answer:
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