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Calculating percentage change in Real GDP
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Consider the following data
Year CPI GDP
2005 100 345
2006 126 349
2007 136 424
2008 146 526
Compute the percent change in real GDP from 2006 to 2007.
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Solution Summary
Solution describes the steps for calculating percentage change in real GDP.
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Solution:
Real GDP in in 2006=349*100/CPI in 2006=349*100/126=276.9841
Real GDP in in ...
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- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
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