Use the following information to calculate the change in real GDP for an economy as measured in 2012 prices Year GDP ($ billion) GDP deflator 2012 $1,450 100 2017 $1,900 150 a Increased by $450 billion b Decreased by $275 billion c Decreased by $226 billion d Decreased by $183 billion e Decreased by $147 billion

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Use the following information to calculate the change in real GDP for an economy as measured in 2012 prices. Year GDP ($ billion) GDP deflator

Use the following information to calculate the change in real GDP for an economy as measured in 2012 prices.

Year GDP ($ billion) GDP deflator

2012 $1,450 100

2017 $1,900 150

	a.	Increased by $450 billion.
	b.	Decreased by $275 billion.
	c.	Decreased by $226 billion.
	d.	Decreased by $183 billion.
	e.	Decreased by $147 billion.

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