Name: Practice Midterm 1 Econ 2305 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Which two groups...

Question 19.

 A country reported nominal GDP of $200 billion in 2010 and $180 billion in 2009. It also reported a GDP deflator of 125 in 2010 and 105 in 2009. Between 2009 and 2010...

Could someone explain why real output fell and prices rose?

Also, question 27.

I get that CPI was 15.5% higher in 2011 than in 2009. I found that CPI rose to 175.5 in 2011.. However I cant figure out what Will's food expenditures for 2010 in 2011 dollars amount to.. 

Thank you.