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    Real GDP rose by what percent?

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    Suppose nominal GDP in 2005 was $14 trillion and in 2006 it was $15 trillion. The general price index in 2005 was 100 and in 2006 it was 103. Between 2005 and 2006 real GDP rose by what percent?

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    Solution Summary

    The expert examines the nominal GDP and the general price index.