Quiz 4 Answers Macro Principles.pdf - Macroeconomic Principles Quiz 4 Name ID 1 A countrys real GDP rose from $500 to $530 while its nominal GDP rose

Quiz 4 Answers Macro Principles.pdf - Macroeconomic...

  • Test Prep
  • MateButterfly3180
  • 2
  • 100% (1) 1 out of 1 people found this document helpful

This preview shows page 1 - 2 out of 2 pages.

1 Macroeconomic Principles Quiz 4 Name: ____________________________________________ ID: ___________ 1.A country’s real GDP rose from $500 to $530 while its nominal GDP rose from $600 to $700. What was this country’s inflation rate? a.16.7%. b.10.0%. c.15.0%. d.-9.1%. 2.A country reported nominal GDP of $100 billion in 2010 and $75 billion in 2009. It also reported a GDP deflator of 125 in 2010 and 120 in 2009. Between 2009 and 2010, 3.Suppose that twenty-five years ago a country had nominal GDP of $1,000, a GDP deflator of 200, and a population of 100. Today it has nominal GDP of $3,000, a GDP deflator of 400, and population of 150. What happened to the real GDP per person?
Background image
Image of page 2

You've reached the end of your free preview.

Want to read both pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture