Nominal GDP increased from roughly $10 trillion in 2000 to $16 trillion in 2012. In the same

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Nominal GDP increased from roughly $10 trillion in 2000 to $16 trillion in 2012. In the same period prices rose on average by roughly 30 percent. By how much did real GDP increase?

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Essentials of Economics

ISBN: 978-1259235702

10th edition

Authors: Bradley Schiller, Karen Gebhardt

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Question Posted: Aug 30, 2017 11:53 PM

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Nominal GDP increased from roughly $10 trillion in 2000 to $16 trillion in 2012. In the same

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30 Explanation Real GDP is nominal GDP adjusted fo...View the full answer

Essentials of Economics

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