Table 12-24 -Refer to Table 12-24

question 120

Essay

Table 12-24
$\begin{array}{|l|r|c|}\hline & \mathbf{2 0 1 7} & \mathbf{2 0 1 8} \\\hline \text { Nominal GDP } & \mathbf{\$ 1 0 , 0 0 0} & \$ 15,000 \\\hline \text { Real GDP } & 9,500 & 10,500 \\\hline\end{array}$
-Refer to Table 12-24.Given the following information,calculate the rate of increase in the price level from 2017 to 2018.Use the percent change in the GDP deflator.

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Definitions:

Interest Rate

The percentage paid by a borrower to a lender for the privilege of borrowing money, often annually, or the yield earned on investment funds.

Cash Flow Streams

Multiple inflows and outflows of cash, associated with investments or business operations, over a period.

Future Value

The value of an investment at a specific future date, including interest or dividends.

Interest Rate

The charge, delineated as a percentage of the initial amount, that a lender requires from a borrower for the utilization of assets.