The following table gives nominal and real GDP for an economy for two years. Year 1 Year 2 Nominal GDP 11000 1400.0 Real GDP 1,000 1200.0 Based on the table, in Year 2, the value of the GDP deflator is (Round your answer to one decimal place.)
The following table gives nominal and real GDP for an economy for two years. Year 1 Year 2 Nominal GDP 11000 1400.0 Real GDP 1,000 1200.0 Based on the table, in Year 2, the value of the GDP deflator is (Round your answer to one decimal place.)
Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN:9781305280601
Author:William J. Baumol, Alan S. Blinder
Publisher:William J. Baumol, Alan S. Blinder
Chapter6: How Statisticians Measure Inflation
Section6.A: How Statisticians Measure Inflation
Problem 2TY
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