Use the information from the preceding table to fill in the following table. Year Nominal GDP Real GDP GDP Deflator 2018 410 410 100 2019 1170 585 200 2020 1080 480 225 From 2019 to 2020, nominal GDP (increase or decrease) , and real GDP (increase or decrease) . The inflation rate in 2020 was (-12.5%, 0.1%, 12.5%, 88.9%, 112.5%) .
Use the information from the preceding table to fill in the following table. Year Nominal GDP Real GDP GDP Deflator 2018 410 410 100 2019 1170 585 200 2020 1080 480 225 From 2019 to 2020, nominal GDP (increase or decrease) , and real GDP (increase or decrease) . The inflation rate in 2020 was (-12.5%, 0.1%, 12.5%, 88.9%, 112.5%) .
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Use the information from the preceding table to fill in the following table.
|
Year
|
Nominal
|
|
Real GDP
|
GDP Deflator
|
|---|---|---|---|---|
|
|
||||
| 2018 |
410
|
|
410
|
100
|
| 2019 |
1170
|
|
585
|
200
|
| 2020 |
1080
|
|
480
|
225
|
From 2019 to 2020, nominal GDP (increase or decrease) , and real GDP (increase or decrease) .
The inflation rate in 2020 was (-12.5%, 0.1%, 12.5%, 88.9%, 112.5%) .
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