2 pointsSave Answer ppose that the base year is 2009. Real GDP in 2009 was $10 t

Question

2 pointsSave Answer ppose that the base year is 2009. Real GDP in 2009 was $10 trillion (in 2009 dollars) The GDP deflator in 2013 was 112, and real GDP in 2013 was $11 trillion (in 2009 dollars). What was the percentage increase in R percentage did the cost of living (as measured from GDP Deflator) rise between 2009 and 2013 GDP between 2009 and 2013? By what NGDP in 2013 was trillion. Round up your answer to the second decimal. The percentage increase in production (RGDP) between 2009 and 2013 ispercent. The cost of living (as measured from GDP Deflator) between 2009 and 2013 rose by percent 12.32; 10; 12 12.32; 1; 1.2 1.23; 10; 1.2 12.32; 10; 1.2

Explanation / Answer

Correct option: (a) 12.32 ; 10 ; 12

Reason:

(1) NGDP = (10/100)(11*112) = $12.32 trillion

(2) Increase in RGDP = (11-10)/10 = 10%

(3) Increase in GDP deflator = (112-100)/100 = 12%

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