Consider the following data: Which year had the largest percentage increase in the price level, as measured
Question:
Consider the following data:
Which year had the largest percentage increase in the price level, as measured by changes in the GDP deflator?
Transcribed Image Text:
Nominal GDP Year 2016 $18,400 2017 2018 2019 2020 2021 19,200 20,000 21,200 19,300 22,000 Real GDP $17,900 18,500 19,200 20,400 18,800 20,800 GDP Deflator Percentage Increase
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