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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

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