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The table below shows data for nominal GDP and the GDP deflator for Canada over several years. lg Year Nominal GDP Real GDP GDP Deflator

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The table below shows data for nominal GDP and the GDP deflator for Canada over several years. lg Year Nominal GDP Real GDP GDP Deflator Billions of dollars Billions of dollars 2014 775.3 97.1 2015 814.1 97.1 2016 862.9 100.0 201? 901.5 102.2 2018 951.3 103.3 2019 998.8 105.1 _J A] Compute Real GDP for each year {show all calculations your work} [5 points) B} Compute the total percentage change in nominal GDP from 2014 to 2019. How much of this change was due to increases in prices and how much was due to changes in quantities? [g points} C] Which measure of GDP is used to measure economic growth for the economy over time and why? [15 points)

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