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If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to 105,

What is the percentage increase in nominal output?

What is the percentage increase in the price index?

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Related questions

Refer to the table given below. Suppose that aggregate demand increases such that the amount of real output demanded rises by $15 billion at each price level.

Real Output Demanded (Original)

Price
Level

Real Output
Supplied

$500

112

$515

505

106

512

510

100

510

515

94

507

520

88

500

1. By what percentage will the price level increase?

2. If potential real GDP (that is, full-employment GDP) is $510 billion, what will be the size of the positive GDP gap after the change in aggregate demand? In Billions?

if nominal gdp is $9,600 billion and the gdp deflator is 118.5, real gdp is
1. If OPE raises the price of oil and production costs increase, this may cause _______________inflation.
Ā 
2. The core inflation excludes_______________.
Ā 
3. Calculate real GDP if nominal GDP is $9,600 billion and the GDP deflator is 118.5.

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