Consider the Following Information on GDP and CPI for an Economy

question 48

Multiple Choice

Consider the following information on GDP and CPI for an economy over the last 3 years. Calculate nominal GDP growth for 2018.
$\begin{array}{lll}&\text { GDE}&\text { CPI }\\2017 & 137.4 & 246.5 \\2018 & 139.4 & 251.2 \\2019 & 141.8 & 257.0\end{array}$

• A)1.15%
• B)1.46%
• C)1.95%
• D)2.15%
• E)2.56%

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Definitions:

Experimental Technique

It is a method or procedure used in scientific research to test hypotheses by systematically varying parameters and observing the outcomes.

Positively Correlated

A relationship between two variables where the values of one variable increase as the values of the second variable increase.

Parental Reading

The activity of parents reading to their children, which is beneficial for language acquisition and literacy skills.

Quasi-Experiment

A research design that attempts to establish a cause-and-effect relationship but lacks the random assignment of subjects to experimental and control groups.