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Economic growth equals the percentage change in real GDP minus the a) percentage change in the...

Economic growth equals the percentage change in real GDP minus the

a) percentage change in the price level and the federal budget deficit

b)percentage change in the price level and the growth rate of the population

c)percentage change in the price level

d)growth rate of the population

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Answer #1

Economic growth equals the percentage change in real GDP minus the growth rate of the population. here we are decucting the population growth rate because real gdp is already adjusted to the price level or the inflation rate. so to access the growth rate we will deduct the population growth rate from the real gdp growth rate.

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