Question

Year
2016
2017
2018
2019
Cow
P
$300
$350
$370
$380
Q
1000
1050
1100
1200
Bicycle
P
$120
$130
$140
$150
Q
1200
1300
1500
1600

1. Calculate nominal GDP for each year
2. Calculate real GDP for each year
3. Calculate GDP deflator and inflation rate

Answer 1

Consumer sentiment suddenly crashes below early-pandemic levels in the US #accelerationism