In a hypothetical country, Nominal GDP has increased by 5%. Which of the following must be true? (1 point) Prices have increased. The quantity of economic output has decreased. The quantity of economic output has increased. Either price, economic output, or both has increased. The GDP for a hypothetical economy is determined to be 6 billion dollars in year 1 and 7.5 billion dollars in year 2. What is the growth rate of GDP from year 1 to year 2? (1 point) O 25% O 1.5% 150% 125% Given a Real GDP of $5, 000 and a Nominal GDP of $5, 500, calculate the GDP deflator. Round your answer to the nearest tenth if necessary. (1 point) 110 O 90.9 O 1.1 O 0.9 Use the table to answer the question. 1988 1989 Quantity Price ($) Quantity Price ($) Milk 10 1.00 15 1.20 Butter 0.50 20 0.50 Eggs 8 0.25 1.00 The table above gives the prices and quantities for a hypothetical country that only produces milk, butter, and eggs. With 1988 as the base year, what is the Real GDP in 1989? (1 point) O $24 $26 O $16 O $32