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Another economics question (about GDP)?
Okay this is about calculating whether or not GDP rose/stayed the same/fell:
If GDP rose from $4 trillion to $6 trillion and prices rose by 50% over this period, real GDP:
A. Fell by 100%
B. Fell by 50%
C. Stayed the same
D. Rose by 50%
E. Rose by 100%
I thank you so much!
1 Answer
- Anonymous8 years agoFavorite Answer
Real Gdp would change from $4 trillion to $6/1.5trillion or $4trillion. So there is no change at all in real term.The answer is C.