Limited access

Upgrade to access all content for this subject

Consider the following data for a developed and industrialized economy. In 2002, the CPI was $110$ and in 2003 the CPI was $105$. Further, if nominal GDP were $\$500$ billion in 2002 and $\$490$ billion in 2003, then what was the growth rate for the economy and does it appear healthy based on this data?

A

Growth rate of $2\%$, no that is not healthy.

B

Growth rate of $2\%$, yes it is healthy.

C

Growth rate of $2.67\%$, no it is not healthy.

D

$2.67\%$, yes the economy is healthy.

E

Not able to be determined from data.

Select an assignment template