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1. Suppose the GDP deflator in 2000 is 105, and the inflation rate between 1999 and 2000 is 5%. In 1999, the nominal GDP is $800. The growth rate of real GDP between 1999 and 2000 is 25%. The GDP deflator in 1999 is The real GDP in 1999 is $ The nominal GDP in 2000 is $

1. Suppose the GDP deflator in 2000 is 105, and the inflation rate between 1999 and 2000 is 5%. In 1999, the nominal GDP is $800. The growth rate of real GDP between 1999 and 2000 is 25%. The GDP deflator in 1999 is The real GDP in 1999 is $ The nominal GDP in 2000 is $

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter8: Savings,investment And The Financial System
Section: Chapter Questions
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1. Suppose the GDP deflator in 2000 is 105, and the inflation rate between 1999 and 2000 is 5%. In 1999, the nominal GDP is $800. The growth rate of real GDP between 1999 and 2000 is 25%. The GDP deflator in 1999 is 1999 is $_ - The real GDP in The nominal GDP in 2000 is $_ 2. Consider a closed economy. If national saving is 1000, GDP is 6000, and consumption is 4500. Further assume that the government has a deficit of 400. If transfer and net interest payment is 400, the tax revenue is saving is and private
Transcribed Image Text:1. Suppose the GDP deflator in 2000 is 105, and the inflation rate between 1999 and 2000 is 5%. In 1999, the nominal GDP is $800. The growth rate of real GDP between 1999 and 2000 is 25%. The GDP deflator in 1999 is 1999 is $_ - The real GDP in The nominal GDP in 2000 is $_ 2. Consider a closed economy. If national saving is 1000, GDP is 6000, and consumption is 4500. Further assume that the government has a deficit of 400. If transfer and net interest payment is 400, the tax revenue is saving is and private
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