a. Complete column 4 by showing the GDP deflator expressed in year 3 dollars. b. What...

  

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a. Complete column 4 by showing the GDP deflator expressed in year 3 dollars. b. What is real GDP in Year 2 measured in Year 3 dollars? c. What is real GDP in Year 3 measured in Year 3 dollars? d. What is real GDP per capita in Year 2 (measured in Year 3 dollars?)? e. What is real GDP per capita in Year 3 (measured in Year 3 dollars?)? f. What is the rate of real GDP growth rate between Years 2 and 37 & What is the rate of real output growth per capita between Years 2 and 3? (Hint: Use per capita data in the output growth rate formula.) Year 1 Year 2 Year 3 Nominal GDP (Trillions) 20,54 21.43 19.29 GDP Deflator 79 98 115 Population (Millions) 281.4 308.7 332.6 Deflator in Year 1 $$ a. Complete column 4 by showing the GDP deflator expressed in year 3 dollars. b. What is real GDP in Year 2 measured in Year 3 dollars? c. What is real GDP in Year 3 measured in Year 3 dollars? d. What is real GDP per capita in Year 2 (measured in Year 3 dollars?)? e. What is real GDP per capita in Year 3 (measured in Year 3 dollars?)? f. What is the rate of real GDP growth rate between Years 2 and 37 & What is the rate of real output growth per capita between Years 2 and 3? (Hint: Use per capita data in the output growth rate formula.) Year 1 Year 2 Year 3 Nominal GDP (Trillions) 20,54 21.43 19.29 GDP Deflator 79 98 115 Population (Millions) 281.4 308.7 332.6 Deflator in Year 1 $$

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a To convert the GDP deflator into dollars for the third year we need to multiply by 100 and divide ... View the full answer