in venezuela the nominal gdp increased from 45.3 billion in 2014 to 48.6 billion in 2015....
in venezuela the nominal gdp increased from 45.3 billion in 2014 to 48.6 billion in 2015. during the same period the cpi went from 122 to 156. given this information calculate the nominal gdp growth in 2015
Homework Answers
Answer
Nominal GDP growth rate =((Nominal GDP of the year - NGDP of last year)/NGDP of last year)*100
the nominal GDP growth in 2015=((48.6-45.3)/45.3)*100
=7.28476821
=7.28%
The NGDP growth rate is 7.28%
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in venezuela the nominal gdp increased from 45.3 billion in 2014
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