Use the following to answer questions :
Table: Price and Output Data
-(Table: Price and Output Data) Look at the table Price and Output Data. Between years 2 and 3, nominal GDP increased by:
A)33%.
B)25%.
C)67%.
D)8%.

Question

Use the following to answer questions :
Table: Price and Output Data 
-(Table: Price and Output Data) Look at the table Price and Output Data. Between years 2 and 3, nominal GDP increased by:
A)33%. 
B)25%. 
C)67%. 
D)8%.

Quizplus · Accepted Answer

Nominal GDP increased from $1,000 in year 2 to $1,670 in year 3, which is a 67% increase.

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