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2.1 The measurement of macroeconomic performance

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Question 28

Table 1 contains data for the rates of growth of nominal and real GDP and the rate of inflation for an economy in a given year.

Which one of the following combinations shows the correct relationship between the three variables?

Table 1

Nominal GDP growthReal GDP growthInflation
A+3%+1%+1%
B-1%-3%+2%
C+4%+2%-2%
D-4%-1%-4%

Nominal GDP growth: +3%+3\%+3%, Real GDP growth: +1%+1\%+1%, Inflation: +1%+1\%+1%

Nominal GDP growth: −1%-1\%−1%, Real GDP growth: −3%-3\%−3%, Inflation: +2%+2\%+2%

Nominal GDP growth: +4%+4\%+4%, Real GDP growth: +2%+2\%+2%, Inflation: −2%-2\%−2%

Nominal GDP growth: −4%-4\%−4%, Real GDP growth: −1%-1\%−1%, Inflation: −4%-4\%−4%

2.1 The measurement of macroeconomic performance Questions

  1. A Level
  2. /Economics
  3. /2.1 The measurement of macroeconomic performance