Essay
Fill in the blanks of the following table and answer the following questions.
Year Real GDP Nominal GDP GDP Deflator
2018 8,144.8 __________ 101.9
2019 __________ 8,759.9 103.1
2020 8,848.2 9,256.1 __________
(a)Does the table indicate there is inflation? Explain your answer.
(b)What was the percentage change in nominal GDP in 2006 and 2007? Inflation? Real GDP?
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Year Real GDP Nominal GDP GDP Deflator
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