The table below shows nominal GDP (Y) data for Happy Country for 2000 and 2015. Also shown are data for the GDP deflator (P) and the population (N). Calculate annual growth rates for GDP and population and the average inflation rate for the 15 years. Then calculate real GDP growth and per-capita, real GDP growth annually for that period.
 

 

Year	Nominal GDP (in $ millions)	GDP deflator (2007=100)	Population (in millions)
2000	2708	71.7	220
2015	6738	126.1	260

 

a. Growth rate of Nominal GDP =
b. Inflation rate =
c. Growth rate of population =
d. Growth rate of real GDP =
e.  Growth rate of real GDP per capita =

 

Answer rating: 100% (QA)

To calculate the growth rates for Nominal GDP GDP deflator population and real GDP we will use the f... View the full answer