Question: the table shows this years nominal gdp and the price...
The table shows this year's nominal GDP and the price level.
If nominal GDP goes up by 4 percent, and the price
level goes up 2 percent next year, calculate next year's nominal
GDP, price level, and Real GDP.
Nominal GDP (in millions) Price Level Real GDP (in millions)
This year $2,200.0 100 2200.0
Next year __. __. __
With the answer can you explain how you get nominal and real GDP?