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Given the information in the table below for three consecutive years in the Australian economy, calculate the missing data. Year Nominal GDP ($b)n Real GDP
Given the information in the table below for three consecutive years in the Australian economy, calculate the missing data.
Year | Nominal GDP ($b)n | Real GDP ($b)n | GDP Deflator (year 2=100) | Inflation (% change in the GDP deflator) | Real GDP per capita ($) | Population (million) |
1 | 547.1 | 98.8 | 1.3 | 18.31 | ||
2 | 540 | 1.2 | 18.52 | |||
3 | 100.2 | 31471 | 18.75 |
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