year nominal GDP GDP deflator
(billions) (based year 1992)
1993 725 101.2
1994 762 102.4
Are these answeres correct????
4.a) The growth rate of nominal income between 1993 and 1994 is 5.10%
(725-762)/725*100=5.10%
b) The growth rate of the GDP deflator between 1993 and 1994 is 1.17%
(101.2-102.4)/102.4*100=1.17%
2 answers