Assume that a painter produces 20 paintings this year and, Ask an Expert

Economics

Assume that a painter produces 20 paintings this year and 20 paintings next year. What is the annual change in nominal GPD if the price of paintings rises from $1,000 this year to $1,500 next year? Can you conclude that the economy grew from this year to next year based on your answer? Why?

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Business Economics, Economics

Category:- Business Economics
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