Neco Model Questions Vol1 2020 Economics Question 2
Practice objective / multiple choice question 2 from the 2020 Neco Model Questions Vol1 Economics examination.
In 2020 the Consumer Price Index (CPI) was 105 (base 100 in 2019) and in 2021 it rose to 110. Real GDP grew by 3% in 2021. Using the Fisher equation, calculate the nominal GDP growth rate for 2021 (express your answer as a percentage to one decimal place).
Answer Options
About This Question
This is Neco Model Questions Vol1 2020 Economics Question 2. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.