Milk Honey Price Quantity Price Quantity (Dollars) (Quarts) (Dollars) (Quarts) 2020 1 200 2 100 2021 1 400 2 200 2022 2 400 4 200     The following table shows nominal GDP, real GDP, and the GDP deflator for each year listed. Year Nominal GDP Real GDP GDP Deflator (Dollars) (Dollars) 2020 400 400 100 2021 800 800 100 2022 1,600 800 200     Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2021 and 2022 from the preceding year. Year   Percentage Change In...       NOMINAL GDP Real GDP GDP Deflator   2021         2022         From 2020 to 2021,  (OUTPUT LEVELS/ PRICES)  did not change; and from 2021 to 2022,   (OUTPUT LEVELS/ PRICES) did not change.   Comparing the changes in 2021 and 2022, economic well-being increased more in    .(2022 /2021)

Q: Year 2020 2021 2022 Nominal GDP Real GDP (Dollars) 350 700 1,400 (Dollars) GDP Deflator 350 350 700…

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A:

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A: your answer is given belowExplanation:

Q: Billions of dollars) (Billions of dollars) 1,789 9,817 1,863 10,128 2,011 10,470 2,160 10,961 2,293…

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