Assume the inflation rate in 2020 is 2.1%. If the nominal GDP grew 4.6% and nominal wages grew 2.4%, what are the approximate real growth rates of GDP and wages?
A) 2.0%; .8%
B) 2.0%; .9%
C) 2.2%; .3%
D) 2.5%; .3%
E) 2.5%; .6%
Correct Answer:
Verified
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