Consider the following data on the U.S Option. economy: a Option. What was the growth rate of…
Consider the following data on the U.S Option. economy: a Option. What was the growth rate of nominal GDP between 1998 and 2018? Solve (Hint: The growth rate of a variable X over an N-year period is calculated as 100 X [( Xfinal/Xinitial )1/N- 1)] Option. b Option. What was the growth rate of the GDP deflator between 1998 and 2018? Solve c Option. What was real GDP in 1998 measured in 2012 prices? Solve d Option. What was real GDP in 2018 measured in 2012 prices? Solve e Option. What was the growth rate of real GDP between 1998 and 2018? Solve f Option. Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Solve Explain. May 17 2022 08:00 PM
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