Answer to Question #71368 in Macroeconomics for Karis Caines

Question #71368
Answer the questions, based on the following information. Year Nominal GDP (bill.) Price Index (GDP deflator) Real GDP (bill.) Year 1 $4,486.0 108 Year 2 $4,710.3 112 (i) Between Year 1 and Year 2, nominal GDP has (increased/decreased) by %.
1
Expert's answer
2017-11-30T15:47:06-0500
(i) Between Year 1 and Year 2, nominal GDP has increased by
(4,710.3/4,486.0 -1)*100%=5%

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