1.04/1.02 = 1.0196 I'd call that +2%. Is your calculation upside down?
I need help with the answer to this I'm thinkign for some reason it is -2 percent but not sure, I need help please.
Suppose the GDP deflator was 100 in 2001 and 102 in 2002. If nominal GDP in 2002 was 4 percent greater than in 2001, then the rate of real GDP growth in 2002 was:
A) -4 percent.
B) -2 percent.
C) 2 percent.
D) 4 percent.