The following table shows nominal GDP, real GDP, and the GDP deflator for each year listed. Nominal GDP Real GDP Year (Dollars) (Dollars) GDP Deflator 2020 350 350 100 2021 700 350 200 2022 1,400 700 200 Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2021 and 2022 from the preceding year. Percentage Change In... Year Nominal GDP Real GDP GDP Deflator 2021 % 2022 % % From 2020 to 2021, did not change; and from 2021 to 2022, did not change. Comparing the changes in 2021 and 2022, economic well-being increased more in
The following table shows nominal GDP, real GDP, and the GDP deflator for each year listed. Nominal GDP Real GDP Year (Dollars) (Dollars) GDP Deflator 2020 350 350 100 2021 700 350 200 2022 1,400 700 200 Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2021 and 2022 from the preceding year. Percentage Change In... Year Nominal GDP Real GDP GDP Deflator 2021 % 2022 % % From 2020 to 2021, did not change; and from 2021 to 2022, did not change. Comparing the changes in 2021 and 2022, economic well-being increased more in
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter23: Measuring A Nation's Income
Section: Chapter Questions
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