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Math Help - Business math help

  1. #1
    Junior Member
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    Business math help

    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.
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  2. #2
    MHF Contributor
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    1.04/1.02 = 1.0196 I'd call that +2%. Is your calculation upside down?
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