The world is facing greater and greater pollution, along with the depletion of natural resources. Every person in every country
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When one has a confusing matrix with many entries, we need to seek what we need. We need only 4 values from this table, so identifying this fact makes our job easier.
(a) The real GDP in 2000 was 12,560 billion dollars. The real GDP in 2013 is 15,710. We have that their difference is: (
) which is equal to 3,150 billion dollars.
(b)
The nominal GDP in 2000 was 9,817 billion dollars. The nominal GDP in 2013 is 16,768 billion dollars. Thus, their difference is (using the same formula and thinking as above) 6,951 billion dollars. We observe that the real GDP has increased faster (almost twice as much) as the nominal GDP in the period 2000-2013
(a) The real GDP in 2000 was 12,560 billion dollars. The real GDP in 2013 is 15,710. We have that their difference is: (
(b)
The nominal GDP in 2000 was 9,817 billion dollars. The nominal GDP in 2013 is 16,768 billion dollars. Thus, their difference is (using the same formula and thinking as above) 6,951 billion dollars. We observe that the real GDP has increased faster (almost twice as much) as the nominal GDP in the period 2000-2013