Answer :
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Final answer:
The growth of the nation's trading partners resulted in an increase in the economy's nominal GDP in 2019.
Explanation:
To determine the impact of the growth of the nation's trading partners on the economy in 2019, we need to analyze the given data. The nominal GDP in 2018 was $1,780 million, and in 2019 it increased to $1,860 million. This indicates that the economy experienced growth in terms of the total value of goods and services produced.
The GDP deflator is a measure of the average price level of goods and services produced in an economy. In 2018, the GDP deflator was 101.2, and in 2019 it increased to 102.6. This suggests that there was an increase in the overall price level of goods and services.
The potential RGDP for 2019 was $2,080 million, which represents the maximum level of output the economy can produce without causing inflationary pressures.
Based on this information, we can conclude that the growth of the nation's trading partners resulted in an increase in the nominal GDP of the economy in 2019. However, the exact percentage of growth cannot be determined with the given data.
Learn more abou trading partners here:
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