Year
Quantity
Price
Nominal GDP
Real GDP 2012$
Real GDP 2015$
2012
1000.00
$10
$10,000
$10,000
$16,000
2013
1100.00
$11
$12,100
$11,000
$17,600
2014
1000.00
$13
$13,000
$10,000
$16,000
2015
1200.00
$16
$19,200
$12,000
$19,200
e. Calculate GDP deflator (using 2012$) and inflation rates for
2013, 2014, and 2015.
f. Calculate GDP deflator (using 2015$) and inflation rates for
2013, 2014, and 2015.