2016 01 2017 01 Nominal GDP (in millions) Gross domestic product Personal consum
ID: 1135810 • Letter: 2
Question
2016 01 2017 01 Nominal GDP (in millions) Gross domestic product Personal consumption expenditures Gross private domestic investment Net exports of goods and services 015 01 17,874.7 18,325.2 19,057.7 12,142.2 12,571.5 13,191.6 3,094.6 3,031.6 3,128.7 538.2 -526.2 -582.8 2289 2,166.5 2,295.6 2,827.3 2,692.8 2,878.4 3,176.2 Exports Imports Government consumption expenditures and gross investment 3,248.3 3,320.2 12. Calculate the percentage change in nominal GDP between 2015 Q1 and 2016 Q1. 4.0% 3.84% 2.46% a. b. d) 2.52%Explanation / Answer
Nominal GDP in 2015Q1 = 17,847.7 million
Nominal GDP in 2016Q1 = 18,325.2 million
Calculate the percentage change in nominal GDP -
% change = [(Nominal GDP in 2016Q1 - Nominal GDP in 2015Q1)/Nominal GDP in 2015Q1] * 100
% change = [(18,325.2 million - 17,847.7 million)/17,847.7 million] * 100
% change = [450.5 million/17,847.7 million] * 100
% change = 0.0252 * 100
% change = 2.52%
Thus,
The percentage change in nominal GDP between 2015Q1 and 2016Q1 is 2.52%.
Hence, the correct answer is the option (d).
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