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The table below contains data for the country of Sweetland, which produces only chocolate and ice cream. The base year is 2017. Sweetland Prices and
The table below contains data for the country of Sweetland, which produces only chocolate and ice cream. The base year is 2017. Sweetland Prices and Quantities Year Price of a chocolate bar Quantity of Chocolate (in bars) Price of ice cream Quantity of ice creams 2017 $1.00 120 $1.50 200 2018 $2.00 150 $1.50 210 2019 $3.00 160 $2.00 210 2020 $3.50 200 $4.00 250 Refer to the table above to answer the following questions. In 2019, the nominal GDP of Sweetland was [ Select ] and the real GDP was [ Select ] . In 2020, the nominal GDP of Sweetland was [ Select ] and the real GDP was [ Select ] . The output grew by approximately [ Select ] in 2020. The GDP Deflator in 2019 was about [ Select ] and in 2020 it was about [ Select ] . The inflation rate in 2020 was approximately [ Select ]
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