Below are some data from the land of milk honey.
Below are some data from the land of milk & honey.Year Price of Quantity of Price of Quantity ofMilk Milk(quartz) Honey Honey(quartz)2001 $1 100 $2 502002 1 200 2 1002003 2 200 4 100b) Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2002 and 2003 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.
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