(Solved): Consider an economy that produces and consumes hamburgers and frozen yogurt. In the ollowing table ...

Consider an economy that produces and consumes hamburgers and frozen yogurt. In the ollowing table are data for two different years. How much is the nominal GDP in 2017 and 2018 ? How much does the nominal GDP change from 2017 to 2018 in percentage? Choose 2017 as the base year, how much is the real GDP in 2017 and in 2018 ? Solve for the real GDP growth rate from 2017 to \( 2018 . \) Suppose we still use 2017 as the base year. Compute the GDP deflator for both years and the inflation rate from 2017 to 2018 according the GDP deflator.