In the country of Orcam, the velocity of money is constant. Real GDP grows by 6 percent per year, the money stock grows by 15 percent per year, and the nominal interest rate is 13 percent. Calculate the growth rate of nominal GDP.
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Home » Business » In the country of Orcam, the velocity of money is constant. Real GDP grows by 6 percent per year, the money stock grows by 15 percent per year, and the nominal interest rate is 13 percent. Calculate the growth rate of nominal GDP.