Terana’s nominal GDP rose from $260 billion in 2016 to $290 billion in 2017. During the same period, the inflation rate was 6%. Round your answers below to one decimal place. a. By what percentage did nominal GDP increase between 2016 and 2017? Nominal GDP increased by % between 2016 and 2017. b. By what percentage did real GDP increase between 2016 and 2017? Real GDP increased by % between 2016 and 2017.

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