Problem
In 1990, Pakistan's total nominal GDP was $34,050 million. In 2000, total nominal GDP had increased to $51,920 million.
a What was the total percentage change in nominal GDP between 1990 and 2000?
b What was the percent change, on average, per year of nominal GDP over the decade?
c Now determine real (constant price) GDP in 2000 calculated at 1990 prices, given that the price index in 1990 = 100 and in 2000 = 215.9.
d What was the percent change in real GDP between 1990 and 2000, both in total and the per year average?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.