Table 1 shows the following amounts for the years 2010 to 2012. $\begin{array}{|l|l|l|}
\hline \text { Year } & \text { Nominal GDP } & \text { Real GDP } \
\hline 2010 & \$ 500 & \$ 500 \
\hline 2011 & \$ 600 & \$ 545.5 \
\hline 2012 & \$ 720 & \$ 600 \
\hline
\end{array}$
Prices in $billions
a.What is the GDP deflator for the three years?
b.Which is growing faster: nominal GDP or real GDP?

Question

Table 1 shows the following amounts for the years 2010 to 2012. $\begin{array}{|l|l|l|}
\hline \text { Year } & \text { Nominal GDP } & \text { Real GDP } \
\hline 2010 & \$ 500 & \$ 500 \
\hline 2011 & \$ 600 & \$ 545.5 \
\hline 2012 & \$ 720 & \$ 600 \
\hline
\end{array}$ 
Prices in $billions 
a.What is the GDP deflator for the three years?
b.Which is growing faster: nominal GDP or real GDP?

Quizplus · Accepted Answer

The Answer of Table 1 shows the following amounts for the years 2010 to 2012. $\begin{array}{|l|l|l|}
\hline \text { Year } & \text { Nominal GDP } & \text { Real GDP } \
\hline 2010 & \$ 500 & \$ 500 \
\hline 2011 & \$ 600 & \$ 545.5 \
\hline 2012 & \$ 720 & \$ 600 \
\hline
\end{array}$ 
Prices in $billions 
a.What is the GDP deflator for the three years?
b.Which is growing faster: nominal GDP or real GDP?

Table 1 Shows the Following Amounts for the Years 2010