Suppose that nominal income Y and the price level P are described by these exponential growth equations:
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Suppose that nominal income Y and the price level P are described by these exponential growth equations:
a. What is the continuously compounded rate of growth of nominal income Y?
b. What is the continuously compounded rate of growth of the price level P?
c. What is the continuously compounded rate of growth of real income Y/P?
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Related Book For
Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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