Suppose That Nominal GDP in Year 1 Is 200 and Nominal

question 44

Multiple Choice

Suppose that nominal GDP in year 1 is 200 and nominal GDP in year 2 is 242. Assume that inflation is ten percent per year. How fast did the economy grow between these two years?

• A) 10 percent
• B) 12 percent
• C) 21 percent
• D) 42 percent

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Definitions:

Human Resource Management

The strategic approach to the effective management of an organization's workers so that they help the business gain a competitive advantage.

Joint Health

A state of physical well-being concerning the functionality and condition of the body's joints, including their strength and freedom from pain.

Safety Committees

Groups formed within organizations to identify safety and health issues and to develop strategies to improve workplace safety.