Using the information in the following table,calculate the rate of increase in the price level from 2017 to 2018.Use the percentage change in the GDP deflator.
$$\begin{array} { | l | c | c | }
\hline & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 8 } \
\hline \text { Nominal GDP } & \$ 10000 & \$ 15000 \
\hline \text { Real GDP } & \$ 9500 & \$ 10500 \
\hline
\end{array}$$ _____________________________________________________________________________________________
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Question

Using the information in the following table,calculate the rate of increase in the price level from 2017 to 2018.Use the percentage change in the GDP deflator.
 $$\begin{array} { | l | c | c | } 
\hline & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 8 } \
\hline \text { Nominal GDP } & \$ 10000 & \$ 15000 \
\hline \text { Real GDP } & \$ 9500 & \$ 10500 \
\hline
\end{array}$$ _____________________________________________________________________________________________
_____________________________________________________________________________________________

Quizplus · Accepted Answer

The Answer of Using the information in the following table,calculate the rate of increase in the price level from 2017 to 2018.Use the percentage change in the GDP deflator.
 $$\begin{array} { | l | c | c | } 
\hline & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 8 } \
\hline \text { Nominal GDP } & \$ 10000 & \$ 15000 \
\hline \text { Real GDP } & \$ 9500 & \$ 10500 \
\hline
\end{array}$$ _____________________________________________________________________________________________
_____________________________________________________________________________________________

Using the Information in the Following Table,calculate the Rate of Increase