Answered: Calculate the GDP deflator and the rate…

Calculate the GDP deflator and the rate of inflation for each year: (€ million) Nominal GDP Real GDP 2013 3,540,000 2,900,000 2014 4,730,000 3,250,000 2015 5,110,000 4,800,200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Calculate the GDP deflator and the rate of inflation for each year:
(€ million)
Nominal GDP
Real GDP
2013
3,540,000
2,900,000
2014
4,730,000
3,250,000
2015
5,110,000
4,800,200

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