Problem
In 2012, a nation's population was 10 million. Its nominal GDP was $40 billion, and its price index was 100. In 2013, its population had increased to 12 million, its nominal GDP had risen to $57.6 billion, and its price index had increased to 120. What was this nation's economic growth rate during the year?
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.