The table below shows data for real and nominal GDP for a hypothetical economy over several years.

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The table below shows data for real and nominal GDP for a hypothetical economy over several years.

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a. Compute the GDP deflator for each year.

b. Compute the total percentage change in nominal GDP from 201 1 to 201 6. How much of this change was due to increases in prices and how much was due to changes in quantities?

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Macroeconomics

ISBN: 9780133910445

15th Edition

Authors: Christopher T S Ragan

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