Assume the Inflation Rate in 2016 Is 1

question 41

Multiple Choice

Assume the inflation rate in 2016 is 1.3 percent.If the nominal GDP grew 3.5 percent and nominal wages grew 2.6 percent,what are the approximate real growth rates of GDP and wages?

• A) 2.00%; 0.80%
• B) 3.05%; 0.90%
• C) 2.10%; 1.10%
• D) 2.20%; 1.20%
• E) 2.20%; 1.30%

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Definitions:

Emergent

Refers to properties or patterns that arise during the process of self-organization in complex systems.

Dynamic

Defined by unceasing alteration, motion, or advancement.

Initiating Structure

The degree to which a leader concentrates on group goal attainment.

Formal Designation

Refers to the official title or status bestowed upon a person, place, or thing through a conventional or recognized procedure.