In a given year, suppose the real GDP per capita growth rate is 3.8 percent, the inflation rate is 2 percent, and the population growth rate is 1.2 percent. What is the nominal GDP growth rate?
A) 3.8 percent
B) 5.0 percent
C) 5.8 percent
D) 7.0 percent
Correct Answer:
Verified
Q2: According to the rule of 70, we
Q3: According to the rule of 70, if
Q4: Historically, real income per person:
A) barely changed
Q5: If a country grows at an average
Q6: Over the last 100 years or so,
Q8: The real GDP per capita growth rate
Q9: According to the rule of 70, a
Q10: In a given year, suppose the nominal
Q11: If a country grows at an average
Q12: We can roughly estimate how long it
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