Question: The table below shows nominal GDP (Y) data for Happy Country for 2000 and 2015. Also shown are data for the GDP deflator (P) and

The table below shows nominal GDP (Y) data for Happy Country for 2000 and 2015. Also shown are data for the GDP deflator (P) and the population (N). Calculate annual growth rates for GDP and population and the average inflation rate for the 15 years. Then calculate real GDP growth and per-capita, real GDP growth annually for that period.

Year

Nominal GDP

(in $ millions)

GDP deflator

(2007=100)

Population

(in millions)

2000

2708

71.7

220

2015

6738

126.1

260

a. Growth rate of Nominal GDP =
b. Inflation rate =
c. Growth rate of population =
d. Growth rate of real GDP =
e. Growth rate of real GDP per capita =

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