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Computation of Nominal and Real GDP

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Please explain the answer to the following question. Thanks.

Nominal GDP increased from roughly $10 trillion in 2000 to $14 trillion in 2009. In the same period the GDP price index rose from 90 to 110. By how much did real GDP increase?

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Nominal GDP increased from roughly $10 trillion in 2000 to $14 trillion in 2009. In the same period the GDP ...

Solution Summary

Solution assists in computing Nominal and Real GDP.

$2.19