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Calculation of real and nominal GDP growth rate and average annual growth.

If GDP at current market prices was £994.3 billion in 2001, and £1,099.9 billion in 2003. The implicit GDP deflator was 100.0 in 2001 and 106.3 in 2003. Compute real and nominal growth rate in GDP among 2001 and 2003. What is the average annual growth rate in each case?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M921496

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