The table above gives the prices and quantities for a fictional country that only produces video games and movies. What is the growth rate of Nominal GDP from 2007 to 2008?
a
200%
b
100%
c
12,600
d
6,300
d - 6,300 (Nominal GDP in 2007 was 10,500 and in 2008 it was 16,800. The difference is 6,300, which represents the growth in nominal GDP from 2007 to 2008. To calculate the growth rate, we divide this number by the 2007 nominal GDP and multiply by 100, which gives us a growth rate of approximately 60%).
To calculate the growth rate of Nominal GDP from 2007 to 2008, we need to compare the GDP for those two years.
From the question, we don't have the specific GDP values for 2007 and 2008, but we are given a table with prices and quantities for video games and movies.
Unfortunately, without the actual GDP values, we cannot calculate the growth rate. Therefore, we cannot determine the correct answer from the provided options.
Please provide the GDP values for 2007 and 2008, and I can help you calculate the growth rate.