Calculate the missing information in the table below taking into consideration that the base year is 2015. Year Price of Books Quantity of Books Price of Socks Quantity of Socks Nominal GDP Real GDP GDP Deflator CPI Inflation Rate 2015 10 120 12 200 3600 3600 100 100   2016 12 300 15 200 6600 5400 122.22 183.33   2017 14 275 18

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
Problem 4CQQ
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Calculate the missing information in the table below taking into consideration that the base year is
2015.

Year Price of Books Quantity of Books Price of Socks Quantity of Socks Nominal GDP Real GDP GDP Deflator CPI Inflation Rate
2015 10 120 12 200 3600 3600 100 100  
2016 12 300 15 200 6600 5400 122.22 183.33  
2017 14 275 18 180 7090 4910 144.40 196.49  
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