Question: solving problem 51 -55. Refer to table above. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): Compute

solving problem 51 -55. Refer to table above. Consider the following

solving problem

51 -55. Refer to table above. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): Compute the GDP deflator for 2018. (5 Marks) Answer: Year Nominal Real GDP GDP 2017 14,078 13,254 2018 14,441 13,312 56-60. Suppose 180,000 people are employed, 20,000 people are unemployed, the working-age population is 250,000, and 50,000 people are not in the labor force. Calculate the unemployment rate

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