The growth rate of Nominal GDP from 2007 to 2008 is 100%.
Nominal GDP is the gross domestic product of a country that is calculated using current year prices. It included real GDP and inflation.
Growth rate in GDP = (nominal GDP in 2008 / nominal GDP in 2007) - 1
Nominal GDP in 2007 = (60 x 100) + (15 x 20)
= $6000 + $300
= $6,300
Nominal GDP in 2008 = (60 x 200) + (12 x 50)
$12,000 + 600
= $12,600
Growth rate = ($12,600 / 6,300) - 1 = 100%
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A written warning. Many businesses "write a person up" for inappropriate behavior which can lead to dismissal if frequent.
Managers, this is symbolic of how business is run in U.S. culture.
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