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Inflation

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Question 13

An economy's nominal GDP and Consumer Price Index (CPI) for three consecutive years are shown in the table below.

YearNominal GDP (£ billion)Consumer Price Index (CPI)
Year 1 (Base Year)300100
Year 2336105
Year 3378112.5

Between Year 2 and Year 3, what is the percentage change in the country's real national output (real GDP)?

5.4%5.4\%5.4%

5.0%5.0\%5.0%

7.1%7.1\%7.1%

12.5%12.5\%12.5%

Inflation Questions

  1. A Level
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  3. /Inflation