Posted: March 7th, 2017

Suppose an economy s real GDP IS 30,000 in a year 1 and 31,000 in year 2.What is the growth rate of it s real GDP?Assume that population is 100 in year 1 and 102 in year 2.What is the growth rate of the GDP per capita?

11)If the CPI was 110 last year and is 121 this year,what is this year rate of inflation?What is the rule of 70 ?How long would it take for the price level to double if inflatin persisted at(a)2,(b)5, and (C)10percent per year?

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