This assignment relates to the following Course Learning Requirements:
CLR2: Define the different types of unemployment in the economy, and analyze the economic factors that influence unemployment.
Table 1.0 below provides nominal GDP, real GDP and GDP deflator data.
(a) Complete Table 1.0
(b) What is the base year for the GDP deflator?
(c) Calculate the percentage change in nominal GDP, real GDP, and the GDP deflator between 2014 and 2015.
(d) Was the increase in nominal GDP due mostly to an increase in real GDP or to an increase in the price level?
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