Suppose Nominal GDP Was $12,623

question 109

Essay

Suppose nominal GDP was $12,623.0 billion in 2005 and was $13,377.2 billion in 2006. If the GDP deflator for 2006 (with a base year of 2005) was 103.237, what is the growth rate of real output between 2005 and 2006? Show your calculations.

Examine the impact of globalization on traditional social structures.

Evaluate the role of common-interest associations and their impact on individuals and societies.

Understand the motivations and drivers behind entrepreneurship.

Differentiate between various types of entrepreneurs.