PROBLEM 4: ECONOMIC GROWTH

Use the data in the "Economic Conditions" table to answer the questions below.

ICON ENGLI X Course Herc X Econ 212 Pr x PROBLEMS | x Google mis x \\C Get Homew X G MONETARY X them * M 1714 (179) x BEARE X * RIER# x B Quizzes - EC x GER x X C # |https://doc.qmail.com/docs/p/v2_76789eddb85c743da080767320258_pre?proxy=1&docsid=F30FDBA26F1BC9A8A65ED4245340991D&op=view N PROBLEMS Econ 212 Final T# PROBLEM 4: ECONOMIC GROWTH Use the data in the "Economic Conditions" table to answer the questions below. ECONOMIC CONDITIONS ECONOMIC VARIABLE YEAR 1 YEAR 2 YEAR 3 Nominal GDP (billions $) 500 550 616 GDP Deflator (Year 3 = 100) 84 91 100 Full-time Workers (millions) 12.0 12.5 13.0 Part-time Workers (millions) 4.0 4.2 4.5 Unemployed (millions) 1.5 1.6 1.5 Discouraged Workers (millions) 0.75 0. 0.6 Working Age Population (millions) 27.5 28.0 29.0 Total Population (millions) 34.5 35.0 36.0 1. For Year 3, calculate the inflation rate