Question: ( a ) Compute real GDP for 2010 using average prices of 2000 as the base year. (On the inside covers of this book youll

( a ) Compute real GDP for 2010 using average prices of 2000 as the base year. (On the inside covers of this book you’ll find data for GDP and the GDP “price deflator” used to measure inflation.)

( b ) By how much did real GDP increase between 2000 and 2010?

( c ) By how much did nominal GDP increase between 2000 and 2010?

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