Multiple Choice Questions on In 2000 the nominal GDP growth of a country was 8 and the real GDP growth was 4 What was the rate of........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

In 2000 the nominal GDP growth of a country was 8 and the real GDP growth was 4 What was the rate of...........

Economics- Phase (I & II) IS-LM
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    In 2000, the nominal GDP growth of a country was 8% and the real GDP growth was 4%. What was the rate of inflation for this country?

    14% 

    Incorrect Answer

    2% 

    Incorrect Answer

    4%

    Correct Answer

    8% 

    Incorrect Answer
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    Explanation:

    Nominal GDP growth = real GDP growth + inflation. Thus, inflation = 8%- 4% = 4%. 

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