Question: i . Calculate nominal spending in each year. ( 2 0 0 0 and 2 0 1 0 ) ii . Calculate real spending in

i. Calculate nominal spending in each year. (2000 and 2010)
ii. Calculate real spending in each year. (2000 and 2010)
iii. Calculate the GDP deflator in each year. (2000 and 2010)
iv. Calculate the CPI in each year. (2000 and 2010)
v. How much have prices risen between 2000 and 2010? Compare the answers from the CPI and GDP deflator. Explain the difference.
vi. Suppose you are a senator writing a bill to index Social Security. That is, your bill will adjust these benefits to offset changes in the cost of living. Which one would you choose? Why?

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