Answered: Suppose an economy's growth rate in…

Suppose an economy's growth rate in real GDP is 3% and its inflation rate is 5%. Given this information, what should be the approximate change in nominal GDP? A. 8% B. -2% C. 2% D. 15%

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section7.4: Real Gdp

Problem 2ST

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Question

Suppose an economy's growth rate in real GDP is 3% and its
inflation rate is 5%. Given this information, what should be the
approximate change in nominal GDP?
A. 8%
B. -2%
C. 2%
D. 15%

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