What was the growth rate of Nominal GDP between 2016 and 2017?  Was the growth rate of real GDP higher or lower that the growth rate of nominal GDP? Explain.  Using 2015 as the base year, calculate the CPI for each year.  Year Price of t-Shirt Quantity of T-Shirt Price of Pajamas Quantity of Pajamas 2015 10 120 12 200 2016 12 300 15 200 2017 14 275 18 180

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