The following table shows nominal GDP, real GDP, and the GDP deflator for each year listed.
Nominal GDP Real GDP Year (Dollars) (Dollars) GDP Deflator
2020 400 400 100
2021 800 800 100
2022 1,600 800 200
Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2021 and 2022 from the preceding year.
Percentage Change In... Year Nominal GDP Real GDP GDP Deflator
2021 % % %
2022 % % %
From 2020 to 2021,
did not change; and from 2021 to 2022,
did not change.
Comparing the changes in 2021 and 2022, economic well-being increased more in