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Part A: Answer all of the following questions. In each case indicate whether the question is true,
false, or
uncertain. Be sure to justify your response.
1. An economy has the following real and nominal GDP for 2014, 2015, and 2016 (all in billions of
dollars).
With this information, we know that the base year is 2014, and the rate of inflation from 2015 to
2016 was
9.65%.
YEAR REAL GPD NOMINAL GDP
2014 100 100
2015 105 120
2016 120 150

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Part A Answer all of the following questions In each case .pdf

  • 1. Part A: Answer all of the following questions. In each case indicate whether the question is true, false, or uncertain. Be sure to justify your response. 1. An economy has the following real and nominal GDP for 2014, 2015, and 2016 (all in billions of dollars). With this information, we know that the base year is 2014, and the rate of inflation from 2015 to 2016 was 9.65%. YEAR REAL GPD NOMINAL GDP 2014 100 100 2015 105 120 2016 120 150