Calculate the growth rate of nominal GDP between 2002 and 2020. You may use the formula 100 x over an N-year period and then a calculator on the web, but make sure you show how you set the problem up. Or, you may also use the simple formula that I use to approximate the growth rate.
show and explain your work 1. (20 points) Nominal GDP GDP Deflator Year (tlillions 5) (base year 2005) 2020 $15 2002 $10 92 a. Calculate the growth rate of nominal GDP between 2002 and 2020. You may use the formula 100 x over an N-year period and then a calculator on the web, but make […]