Answer to Question #59585 in Macroeconomics for ali

Question #59585
Calculating CPI, real, and per capita terms. Year: 2000, 2001, 2002. Data: 847, 902, 911. GDP ($B): 562, 607, 619. Pop (m): 183, 201, 232. Calculate inflation for 2001.
Expert's answer
Inflation for 2001 can be calculated in such way: π(2001) = (Real GDP - Nominal GDP)/Nominal GDP*100% = (902 - 607)/607*100% = 48.6%.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS
paypal