(Answered) The data below contains data for the country of chelsea the

Management Studies

The data below contains data for the country of Chelsea. The base year is 1974.

Year. Nominal GDP. GDP Deflator.

1974 $2000 100

1975 $3000 120

1976 $3750 150

1977 $6000 200

a) What is the real GDP in 1975?

b) From 1976 to 1977, what is the inflation and growth rate of output?

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