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Year Nominal Price Nominal Real Wage Inflation Economic GDP (bill.) index GOP (bill) Wage Rate CK) Growth rate (9) Year O 4486.0 108 40,000 Year

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Year Nominal Price Nominal Real Wage Inflation Economic GDP (bill.) index GOP (bill) Wage Rate CK) Growth rate (9) Year O 4486.0 108 40,000 Year 1 4710.3 112 40,800 Year 2 4695.0 109 40.750 Year 3 4725.0 114 41.000 Year 4 4860.0 116 41.800 Year 5 4980.0 118 42.750 Year 6 5115.0 121 44.520 Year 7 5225.0 123 46.200 Year B 53320 124 47,300 What is the value of the real GDP in Year 1? What is the value of the real wage in Year 1? What is the rate of the real inflation rate in Year 1? What is the rate of the economic growth rate in Year 1? What is the value of the real GDP in Year 5? What is the value of the real wage in Year 5? What is the rate of the real inflation rate in Year 5? What is the rate of the economic growth rate in Year 5

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