a. Compute the percentage change in nominal GDP, real GDP, and GDP deflator in 2020 and 2021
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Question:
a. Compute the percentage change in nominal GDP, real GDP, and GDP deflator in 2020 and 2021 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.
b. Did economic well-being rise more in 2020 or 2021? Explain.
Related Book For
Microeconomics
ISBN: 978-1464187025
2nd edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
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