Suppose that nominal GDP was $9500000.00 in 2005 in Fairfax County Virginia. In 2015, nominal GDP was $11500000.00 in Fairfax County Virginia. The price level rose 2.00% between 2005 and 2015, and population growth was 4.00%. Calculate the following figures for Fairfax County Virginia between 2005 and 2015. Give all answers to two decimals.

a. Nominal GDP growth was %.

b. Economic growth was %.

c. Inflation was %.

d. Real GDP growth was %.

Answer rating: 100% (QA)

Part A Nominal GDP growth is equivalent to A nominal GDP So nominal GDP growth 1150000000 950000000... View the full answer