Calculate nominal GDP in 2012 and in 2015 and the percentage increase in nominal GDP from 2012
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Calculate nominal GDP in 2012 and in 2015 and the percentage increase in nominal GDP from 2012 to 2015.
The base year is 2012. Real GDP in 2012 was $15 trillion. The GDP price index in 2015 was 105, and real GDP in 2015 was $16 trillion.
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In the base year nominal GDP equals real GDP So in the base year o...View the full answer
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