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Please answer the GDP question

A) nGDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate?
B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1?
C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?
(Hint: use part A. If you know GDP growth with both output and prices and now you now output by itself, what must prices have done?).

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

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Suppose that twenty-five years ago a country had nominal GDP of $1,800, a GDP deflator of 150, and a population of 100. Today it has nominal GDP of $2,800, a GDP deflator of 270, and population of 180. What happened to the real GDP per person?

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QUESTION 32

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