If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to 105, a. What is the percentage increase in nominal output?

Question:
If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to
105
a. What is the percentage increase in nominal output?
Answer:
% increase in nominal GDP = [(New level of nominal GDP-initial level of nominal GDP)/initial
level of nominal...