Dle 4.14 shows national data (in billions of dollars) for the economy of Westfall. Answer the...

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Answer 1

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a)

	2015	2016	2017
Nominal GDP	850	958	1039
GDP Deflator	109	115	118
Real GDP	780	833	880
Population (millions)	30	31	31
Real GDP Per capita	25.994	27.311	28.390

b) Inflation = ((115-109)/109)*100 = 5.5 percent

c) Growth rate = ((28.39-27.311)/27.311)*100 = 3.95 percent

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Answer 2

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