Assume the following. In 2011, the U.S. had real GDP of $16.2 trillion and the CPI was
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Assume the following. In 2011, the U.S. had real GDP of $16.2 trillion and the CPI was at 211.4. At the end of 2021, real GDP in the U.S. was $19.5 trillion and the CPI was at 280.2. Calculate the compounded (i.e., geometric) growth rate for this 10-year period.
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