Q3. (2 marks) The following table contains data on the nominal GDP, real GDP, and the GDP

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Q3. (2 marks) The following table contains data on the nominal GDP, real GDP, and the GDP deflator (Price Index) in MAMAMIA for three years. Year Nominal GDP Real GDP GDP (Billion $) (Billion $) Deflator 2016 $ 120 $120 100 2017 150 115 2018 140 120 a. What are the missing entries. b. What is the base year? c. The economy has grown by percent in 2017 and percent in 2018. d. The economy produced (less, more) goods and services in 2018 than in 2017

Posted Date: Jul 07, 2024 02:36 AM

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Q3. (2 marks) The following table contains data on the nominal GDP, real GDP, and the GDP

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