Given the following Hypothetical Example and the base year is 2017, answer the questions that follow

Year

X

Y

Z

Nominal

GDP

Real

GDP

GDP

Deflator

Real GDP

Growth

Inflation

Rate

Q

P

Q

P

Q

P

2017

2

2

1

4

4

2

2018

3

3

2

5

5

3

2019

4

4

3

6

6

4

1. Calculate the nominal GDP in the three years
5. Calculate the real GDP in the three years.
9. Calculate the GDP deflator in the three years
13. Calculate the real GDP growth between 2018 and 2019
17. Calculate the rate of inflation in 2019