What would Israel's nominal GDP growth rate be if Israel experienced a real GDP growth rate next year the same as its average over the period 1950-2010, with an inflation rate of 3% and population growth of 0%? Give your answer to two decimal places.

Question

Business

Arnav Beard

30 August, 04:14

What would Israel's nominal GDP growth rate be if Israel experienced a real GDP growth rate next year the same as its average over the period 1950-2010, with an inflation rate of 3% and population growth of 0%? Give your answer to two decimal places.

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Answers (1)

Know the Answer?

Eduardo Sheppard · Answer 1

Israel's nominal GDP growth rate would be 6.25.

Explanation:

GDP is the gross domestic product of a particular country. It specifies the growth rate of the country keeping in mind all the aspects of the country which is the rate of production, manufacturing, consumption and the distribution of the goods and the services in the country.

Gross Domestic Product is affected by the population growth rate also and since the population growth rate in zero in Israel, the rate of GDP would be high.