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Use the following data to answer the questions below. 2015 2014 Quantity Price $70

Use the following data to answer the questions below. 2015 2014 Quantity Price $70 $11 $850 $3 Year 2012 2013 Quantity Price $65 $11 $900 $3 Quantity Price 110 320 Quantity 120 320 10 1500 Good Price $70 $12 $800 $3 110 350 Shoes $60 Hamburgers $10 Computers 100 300 12 1000 10 1 1 $900 1300 Chips $3 1200 a.) Fill out the tables below using 2012 as the base year. (6 points) GDP Deflator Real GDP Year 2012 2013 2014 2015 Nominal GDP b.) Calculate the percent change of each of the three variables from above. (6 points) Nominal GDP Years 12-13 13-14 14- 15 Real GDP GDP Deflator Fill out the tables below using 2015 as the base year. (6 points) Year 2012 2013 2014 2015 GDP Deflator Nominal GDP Real GDP Calculate the percent change of each of the three variables from above. (6 points) GDP Deflator Nominal GDP Years 12-13 13- 14 14--15 Real GDP

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