Suppose the actual level of output in the economy is $2,120 million and the estimated natural rate of output is $2,000 million. Calculate the output ratio for this economy. Provide answer to 2 decimal points and keep it in the ratio format, ie don't multiply by 100.

Assume that an economy has the following data: RGDP in 2018: $1,764 million RGDP in 2019: $1,815 million Nominal GDP in 2018: $1,790 million Nominal GDP in 2019: $1,810 million Potential RGDP for 2019: $1,800 million

Over the 2018-19 period, the economy experienced ________ percent, resulting in a GDP gap of ________ in 2019. According to the AD-AS model, this is likely to have occurred as a result of ________.

Group of answer choices

deflation of 1.72 percent; $15 million; an increase in the economy's resource base.

inflation of 1.72 percent; $15 million; an increase in the economy's resource base.

deflation of 1.72 percent; $51 million; strengthening domestic currency.

inflation of 1.72 percent; $51 million; strengthening domestic currency.

inflation of 1.72 percent; $15 million; booming stock market prices.

deflation of 1.72 percent; $15 million; booming stock market prices.

deflation of 1.72 percent; $51 million; a supply shock.

inflation of 1.72 percent; $51 million; a supply shock.