Suppose that in 2011 Nominal GDP was $14 trillion and the Real GDP was $12 trillion. If Nominal GDP increased by 20% between 2011 and 2012 and Real GDP remained the same, what was the GDP Deflator in 2012? Select one: a. 1.2 b. 1.4 c. 1.6 d. 1.8 e. 2.0

Confused on and don’t know how to find the correct answers

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars.   Billions of Dollars Gross private domestic investment 120 Depreciation 35 Exports 60 Imports 55 Government spending 130 Personal consumption expenditures 325 Indirect business taxes (net of subsidies) 20 Personal taxes 90 Employee compensation 380 Corporate profits and FICA contributions 80 Rental income 25 Net interest 35 Proprietors' income 5 Transfer payments and other income 65   Using the expenditure or income approach, GDP for this country was $    billion.   Complete the following table by calculating national income, personal income, and disposable personal income for this country. (Note: Be sure to enter your figures in billions of dollars.)   Billions of Dollars National Income   Personal Income   Disposable Personal Income