From 2009 to 2010,per capita real gross domestic product (GDP)in the United States grew by 1.8%.Given that prices increased by 1% and the population grew by 1%,we know that nominal GDP grew by:

Question

Quizplus · Accepted Answer

Nominal GDP growth is calculated by adding real GDP growth, inflation rate, and population growth. Thus, 1.8% (real GDP growth) + 1% (inflation) + 1% (population growth) = 3.8%.

From 2009 to 2010,per Capita Real Gross Domestic Product (GDP)in