Skip to content
MathsGenie logo
Open app

Course home

  1. A Level
  2. Economics OCR
  3. Question bank

Inflation

EasyMediumHard
123456789101112131415161718
Question 14

An economy's national accounts show the following data for two consecutive years:

YearNominal GDP (£ billion)Price Index (Base Year = 100)Year 1500125Year 2546130 \begin{array}{|c|c|c|} \hline \text{Year} & \text{Nominal GDP (£ billion)} & \text{Price Index (Base Year = 100)} \\ \hline \text{Year 1} & 500 & 125 \\ \hline \text{Year 2} & 546 & 130 \\ \hline \end{array} YearYear 1Year 2​Nominal GDP (£ billion)500546​Price Index (Base Year = 100)125130​​

What is the percentage change in the real GDP of this economy from Year 1 to Year 2?

4.0%4.0\%4.0%

5.0%5.0\%5.0%

5.2%5.2\%5.2%

9.2%9.2\%9.2%

Inflation Questions

  1. A Level
  2. /Economics
  3. /Inflation