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Suppose the nominal GDP in 2016 in the small country of Arkansia was $32 billion while the real GDP in 2016 in Arkansia was $
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Year 2016 Nominal GDP: Real GDP a $32 Billion $20 Billion Year 2017 Nominal GDP = $34.5 Billion Real GDP - $21. Billion GDP d2 x 100% 164.29 - 160 160 Inflation & 2,68 %

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