Given the data table below: Year 2015 2016 2017 2018 2019 2020 GDP Deflator, Real GDP, 2015-100 2015-100 1. 2. 100.00 100.40 103.30 106.90 106.50 103.30 423,444.10 438,712.15 458,776.09 475,673.62 480,957.65 461,185.67 Find the nominal GDP for the year 2018 The Average Annual GDP Growth from 2018-2020 is (Hint: You'll need growth rates from 2017-2018, 2018-2019, 2019-2020 to answer this) 3. If the GDP Deflator was adjusted such that the Base Year was 2018, find the new GDP deflator value for 2020

Given the data table below: Year 2015 2016 2017 2018 2019 2020 GDP Deflator, Real GDP, 2015-100 2015-100 1. 2. 100.00 100.40 103.30 106.90 106.50 103.30 423,444.10 438,712.15 458,776.09 475,673.62 480,957.65 461,185.67 Find the nominal GDP for the year 2018 The Average Annual GDP Growth from 2018-2020 is (Hint: You'll need growth rates from 2017-2018, 2018-2019, 2019-2020 to answer this) 3. If the GDP Deflator was adjusted such that the Base Year was 2018, find the new GDP deflator value for 2020

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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