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If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to 105, a. What is the percentage increase in nominal output?

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If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to 105, a. What is the percentage increase in nominal output?
Answered Same Day Dec 20, 2021

Solution

David answered on Dec 20 2021
138 Votes
Question:
If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to
105
a. What is the percentage increase in nominal output?
Answer:
% increase in nominal GDP = [(New level of nominal GDP-initial level of nominal GDP)/initial
level of nominal...
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