The GDP deflator in the United States in 2015 was 105, and The GDP deflator in the United States in 2019 was 112, and What was the percentage increase in production between 2 >>> Answer to 1 decimal place. The percentage change in production between 2015 and 2

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 14CQ
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The GDP deflator in the United States in 2015 was 105, and real GDP in 2015 (in 2012 dollars) was $17.4 trillion.
The GDP deflator in the United States in 2019 was 112, and real GDP in 2019 (in 2012 dollars) was $19.0 trillion.
What was the percentage increase in production between 2015 and 2019, and by what percentage did the price level rise between 2015 and 2019?
>>> Answer to 1 decimal place.
The percentage change in production between 2015 and 2019 is percent.
Transcribed Image Text:K The GDP deflator in the United States in 2015 was 105, and real GDP in 2015 (in 2012 dollars) was $17.4 trillion. The GDP deflator in the United States in 2019 was 112, and real GDP in 2019 (in 2012 dollars) was $19.0 trillion. What was the percentage increase in production between 2015 and 2019, and by what percentage did the price level rise between 2015 and 2019? >>> Answer to 1 decimal place. The percentage change in production between 2015 and 2019 is percent.
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