Suppose that nominal GDP in 2002 totals $10480 billion and rises to $12.5 trillion ten years later. If the GDP
Suppose that nominal GDP in 2002 totals $10480 billion and rises to $12.5 trillion ten years later. If the GDP deflator for 2002 is 1.85 and for 2010 is 2.75, in what year is real GDP greater. By how much?
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