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Suppose Nominal GDP for an Economy Rose from $125 Billion

Question 152

Multiple Choice

Suppose nominal GDP for an economy rose from $125 billion in 2016 to $175 billion in 2017 and that the inflation rate over the same period was 5 percent.
-Refer to the information above to answer this question.By what percentage did nominal GDP increase between 2016 and 2017?


A) 10%
B) 20%
C) 30%
D) 40%
E) 50%

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