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2.1 The measurement of macroeconomic performance

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Question 19

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 financial year.

Which one of the following combinations, A, B, C or D, shows the correct relationship between the three variables?

Table 1

Nominal GDP growthReal GDP growthInflation rate
A+2%-1%+4%
B-3%-1%-1%
C+1%+4%-3%
D-2%+2%-5%

Nominal GDP growth: +2%+2\%+2%, Real GDP growth: −1%-1\%−1%, Inflation rate: +4%+4\%+4%

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

Nominal GDP growth: +1%+1\%+1%, Real GDP growth: +4%+4\%+4%, Inflation rate: −3%-3\%−3%

Nominal GDP growth: −2%-2\%−2%, Real GDP growth: +2%+2\%+2%, Inflation rate: −5%-5\%−5%

2.1 The measurement of macroeconomic performance Questions

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