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Nominal GDP in Venezuela has grown rapidly in recent years. But historically, Venezuela is a country that has struggled with inflation rates. The table below gives statistics for Venezuela in a recent year. Nominal GDP growth rate GDP deflator growth rate Population growth rate 8.6% 6.9% 1.1% What was the rate of economic growth for Venezuela? % (Round your answer to the nearest tenth.) Part 2(1 pt) See Hint If Venezuela continues to grow at its current rate of economic growth, how long will it take to double the level of per capita real GDP? Round your answer to the nearest tenth. years
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