Essentials of Economics Chapter 15 Problem 6 thanks! 1 answer below »


year Formal GDP GDP Deflator (infamous year 2005) 2009 14,256 109.8 1999 9,353 86.8 1. what was the genuine GDP in 1999 measured in 2005 prices? 2. what was the genuine GDP in 2009 measured in 2005 prices? 3. What was the augmentation admonish of genuine GDP betwixt 1999 and 2009? 4. Was the augmentation admonish of formal GDP upper or inferior than the augmentation admonish of genuine GDP? Explain. Thanks for whoever answers!! :):):)