Problem
Data for nominal GDP and the GDP deflator (2000 = 100) in 2001 and 2002 for six major industrial countries are presented in the accompanying Table A.
a. Use the data provided to calculate the 2001 and 2002 real GDP of each country measured in 2000 prices. Place the figures in the blanks provided.
b. Use the data for the GDP deflator to calculate the inflation rate of each country. Put your answers in the blanks provided.
c. Which country had the highest growth rate of real GDP? Which had the lowest?
d. Which countries had the highest and the lowest inflation rates?
e. Which one of the countries had the most inflation during this period?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.