Question: Please help me with this homework question 7. In year 1, nominal GDP is $14 trillion, and the GDP deflator is 122.5. In year 2,

7. In year 1, nominal GDP is $14 trillion, and the GDP

Please help me with this homework question

7. 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: Real GDP for year 1 and year 2. b. Inflation between year 1 and year 2.

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