1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price...

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1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price...

1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price level increased from 120.0 to 123.4. Rounding to the nearest second decimal, how much was the growth rate of nominal GDP?

2. A US computer company buys computers from a US company for their workers. Which category of US gross domestic product (GDP) is this included? (C, I, G, NX or none of the four)

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Answer 1

Answer #1

1. Growth rate of nominal GDP

Nominal GDP

= ((18.05-16.62)/16.62)*100

=8.60 percent

2. It is included in investment sector (I)

It represents the expenditures on capital like computers which are not consumed immediately.

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Answer 2

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