Question: Please help me with this homework question 6. (opie) Below are nominal GDP and GDP deflator for four years. Nominal GDP in GDP Year billions

Please help me with this homework question

Please help me with this homework question 6. (opie) Below are nominal

6. (opie) Below are nominal GDP and GDP deflator for four years. Nominal GDP in GDP Year billions Deflator 2010 $25,000 100 2011 12,000 107 2012 16,490 105 2013 17,800 111 a. (Seats) Calculate real GDP each year. b. (apps) Calculate the inflation rate for each year. c. (2pts) Did the percentage change in nominal GDP exceed the percentage change in real GDP in any of the last three years listed? Show your calculations. Bonus: In which year did society's welfare increase the most? (2pts) 7. (10opts) In year 1, nominal GDP is $14 trillion, and the GDP deflator is 122.5. In year 2, nominal GDP is $14 trillion, and real GDP is $12 trillion. Calculate: (5pts) a. (@upts) Real GDP for year 1 and year 2. b. (22%pts) Inflation between year 1 and year 2

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