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Suppose nominal GDP is $100 billion in 2019 and $110 billion in 2020. The GDP deflator in 2020 is 120 with the base year in
Suppose nominal GDP is $100 billion in 2019 and $110 billion in 2020. The GDP deflator in 2020 is 120 with the base year in 2019. Using this information we can say that between 2019 and 2020 there has been
a) positive economic growth and negative inflation.
b) negative economic growth and negative inflation.
c) negative economic growth and positive inflation.
d) positive economic growth and positive inflation.
e) positive inflation but we do not have enough information to calculate economic growth.
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