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Using the Information in the Following Table,calculate the Rate of Increase

question 5

Essay

Using the information in the following table,calculate the rate of increase in the price level from 2017 to 2018.Use the percentage change in the GDP deflator.
20172018 Nominal GDP $10000$15000 Real GDP $9500$10500\begin{array} { | l | c | c | } \hline & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 8 } \\\hline \text { Nominal GDP } & \$ 10000 & \$ 15000 \\\hline \text { Real GDP } & \$ 9500 & \$ 10500 \\\hline\end{array} _____________________________________________________________________________________________
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