7. Adding to Table 11.1, if in 2007 real GDP was

$13,206.4 billion and nominal GDP was $14,028.7 billion, calculate the percentage change from 2006 to 2007 in nominal GDP, real GDP, and the price level. What is the value of the GDP deflator in 2007?

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TABLE 11.E1 Nominal Versus Real GDP YEAR COFFEE (CUPS) MILK (GALLONS) GDP (NOMINAL, REAL) 2010 Price Quantity Price Quantity (The base year) $1.00 10 $2.00 20 Expenditure 2011 (Case 1) Price Quantity Price Quantity $1.50 10 $4.00 20 Expenditure 2011 (Case 2) Price Quantity Price Quantity $1.00 15 $2.00 40 Expenditure 2011 (Case 3) Price Quantity Price Quantity $1.50 15 $4.00 40 Expenditure