If gdp increases in nominal terms from 600 billion in 1994, Ask an Expert

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If GDP increases in nominal terms from $600 billion in 1994 to $663 billion in 1996 and the price index (1992 = 100) rises from 120 to 130, how much real growth (in 1992 dollars) in GDP occurred between 1994 and 1996?

(Note: Show the real growth both as percentage and in dollars. Please show all math or formulas.)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91274627

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