Chapter 7: Economic Growth, Business Cycles, Unemployment ...

b. The nominal GDP for the last quarter of 1999 was 9,507.9 billion dollars, while the real GDP for the same quarter was 9,037.2. c. GDP rose by 9.4% in the first quarter of 2000. However, the real GDP rose by 7.3%. Thus, the increase in the aggregate price level was responsible for 2.1% increase in the GDP. d. ................
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