Answered: a. Fill in the blanks in the table…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 31P: Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa...

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The table below shows national data for the economy of Westfall. Round your intermediate calculations to one decimal place. Enter your responses rounded to one decimal place with the exception of Real GDP per capita that can be entered as a whole number.

a. Fill in the blanks in the table below.

201820192020Nominal GDP (in billions)$650$730$ GDP deflator (2010 = 100)112 121Real GDP (in billions)$ $617$ Population (in millions)44 45Real GDP per capita$ $13,854$14,349

b. The inflation rate in 2019 is %.

c. The growth rate of real GDP per capita in the year 2020 is %.

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