Mathematics, 14.09.2021 15:10 elainestorm5676
Nominal GDP in 2002 was $11,103. From 2002-2020, real GDP growth was 0.025 (2.5%)
per year. The base year for calculating real GDP is 2020. Deflator based inflation1
from2002-2020 was 0.03 (3%) per year. What is the average annual growth rate of nominal GDP
from 2002-2020?
Answers: 1
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Nominal GDP in 2002 was $11,103. From 2002-2020, real GDP growth was 0.025 (2.5%)
per year. The ba...
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