Social Studies, 11.08.2021 08:30, juli8350

The table below shows data for real and nominal GDP (in billions of Shillings) for a hypothetical economy over several years. Year
Nominal GDP
Real GDP

2015
775.3
798.4

2016
814.1
838.6

2017
862.9
862.9

2018
901.5
882.5

2019
951.3
920.6

2020
998.8
950.5

Compute the GDP deflator for each year.
Compute the total percentage change in nominal GDP from 2015 to 2020.
How much of this change (in b) was due to increases in prices and how much was due to changes in quantities?

Answers: 3

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The table below shows data for real and nominal GDP (in billions of Shillings) for a hypothetical ec...