Answer:
80%
Explanation:
Initial nominal GDP = $ 2000
Initial CPI = 1
Therefore, real GDP can be calculated by :
Real GDP = [tex]$\frac{\text{nominal GDP}}{CPI / 100}$[/tex]
[tex]$=\frac{2000}{1/100}$[/tex]
= $ 200,000
Final nominal GDP = $ 2000
Final CPI = 1
Therefore, real GDP can be calculated by :
Real GDP = [tex]$\frac{\text{nominal GDP}}{CPI / 100}$[/tex]
[tex]$=\frac{3000}{1.2/100}$[/tex]
= $ 250,000
Therefore, percentage change in the real GDP is :
[tex]$= \frac{200000}{250000}\times 100$[/tex]
= 80%
