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    Nominal GDP, real GDP, rate of inflation

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    Suppose hamburgers cost 1.50 last year and 1.65 this year, and the overall price index (the GDP deflator )rose for 125 last year to 150 this year.
    a. How much will 1,000 hamburgers contribute to this year's nominal GDP?
    b. How much will 1,000 hamburgers contribute to this year's real GDP?
    c. What was the rate of inflation during the past Year?

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    https://brainmass.com/economics/macroeconomics/nominal-gdp-real-gdp-rate-inflation-87619

    Solution Preview

    Suppose hamburgers cost 1.50 last year and 1.65 this year, and the overall price index (the GDP deflator )rose for 125 last year to 150 this year.

    a. ...

    Solution Summary

    The expert calculates nominal GDP, real GDP, rate of inflation.

    $2.19