If NGDP Is Nominal GDP and P Is the Price

question 51

Multiple Choice

If NGDP is nominal GDP and P is the price level, which of the following can be used to calculate the growth of the real GDP?

• A) percent change in NGDP - percent change in P
• B) percent change in NGDP + percent change in P
• C) percent change in NGDP ｴ percent change in P
• D) percent change in P + percent change in NGDP
• E) percent change in P - percent change in NGDP

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Definitions:

US$ Per C$

A currency exchange rate that shows how much US dollars is worth in Canadian dollars.

Importer

An individual or company that buys goods or services from abroad for sale in their home country.

Service Charge

A fee collected by a bank, institution, or service provider for the provision of a service, often associated with transactions or account maintenance.

€

The symbol for the Euro, a currency used by many countries in the European Union.