docs.google.com aYou are given the followinginformation about an economy, usethe information to calculate exercises13, 14, 15 and 16:YearNominal GDPReal GDPGDP Deflator2100 Million000700110072002$150 Million12520032004You are also told that• Nominal GDP increased by 10% between 2000 and 2001• Real GDP stayod constant between 2000 and 2001• Overall inflation, as measured by the GDP deflator, over the period 2000-2004 was 100%• Real GDP increased 20% between 2002 and 2003• Inflation increased by 20% between 2002 and 2003 as measured by the GDP deflator• Nominal GDP between 2003 and 2004 stayed constant13. Nominal GDP in 2003 and 2004 is *$270 Million$250 Million$200 MillionO $222 Million

You are given the following information about an economy, use the information to calculate exercises 13, 14, 15 and 16: Year Nominal GDP Real GDP GDP Deflator S100 Million 0007 001 1007 S150 Million 125 2003 You are also told that •Nomical GDP increased by 1ON between 2000 and 2001 Real GDP stayod constant between 2000 and 2001 Overall inflaton, as measured by the GDP deflator, over the period 2000-2004 was 100% Real GDP increased 20 between 2002 and 2003 • Inflation increased by 20% between 2002 and 2003 as measured by the GDP deflator • Nominal GDP between 2003 and 2004 stayed constant 13. Nominal GDP in 2003 and 2004 is * O $270 Million O $250 Million O $200 Million O $222 Million

You are given the following information about an economy, use the information to calculate exercises 13, 14, 15 and 16: Year Nominal GDP Real GDP GDP Deflator S100 Million 0007 001 1007 S150 Million 125 2003 You are also told that •Nomical GDP increased by 1ON between 2000 and 2001 Real GDP stayod constant between 2000 and 2001 Overall inflaton, as measured by the GDP deflator, over the period 2000-2004 was 100% Real GDP increased 20 between 2002 and 2003 • Inflation increased by 20% between 2002 and 2003 as measured by the GDP deflator • Nominal GDP between 2003 and 2004 stayed constant 13. Nominal GDP in 2003 and 2004 is * O $270 Million O $250 Million O $200 Million O $222 Million

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Measuring A Nation's Income

Section: Chapter Questions

Problem 6PA

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