Question: Please answer these questions based on the charts at the top Table 5-1 Consider the following table for the country of Ophir: Year Nominal GDP

Please answer these questions based on the charts at the top

Please answer these questions based on the charts at the top Table

Table 5-1 Consider the following table for the country of Ophir: Year Nominal GDP GDP Deflator 2018 58000 100 2019 $8200 105 2020 58400 110 4. Refer to Table 5-1. What can we conclude about real GDP from this information? a. Real GDP was higher in 2020 than in 2019. and real GDP in 2019 was higher than in 2018. b. Real GDP was higher in 2020 than in 2018. and real GDP in 2019 was higher than in 2020. c. Real GDP was higher in 2018 than in 2019. and real GDP in 2019 was higher than in 2020. d. Real GDP was higher in 2018 than in 2019. and real GDP in 2020 was higher than in 2019. Table 6-2 Year Price of pork Price of corn 2018 $15 $10 2019 $20 $15 5. Refer to Table 6-2. Suppose that the basket of goods in the CPI consisted of 3 units of pork and 4 units of corn. What is the inflation rate for 2019? a. 4.76 percent b. 25.00 percent c. 40.00 percent d. 41.18 percent 6. The price index in the first year is 100. in the second year is 90, and in the third year is 80. What is the deflation rate between the first and second year, and between the second and third year? a. 11 percent between the first and second vear, 11 percent between the second and third year b. 11 percent between the first and second year, 12 percent between the second and third year c. 10 percent between the first and second year, 11 percent between the second and third year d. 10 percent between the first and second year, 12 percent between the second and third year

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