Question

The following table shows some data for an economy that produces only two goods: milk and honey.

Year	Milk		Honey
	Price	Quantity	Price	Quantity
	($)	(Quarts)	($)	(Quarts)
2016	1	200	2	100
2017	1	400	2	200
2018	2	400	4	200

The following table shows the Nominal GDP, Real GDP, and GDP Deflator for each year listed.

Year	Nominal GDP	Real GDP	GDP Deflator
	($)	($)
2016	400	400	100
2017	800	800	100
2018	1600	800	200

Compute the % change in the Nominal GDP, Real GDP, and the GDP Deflator in 2017 and 2018 from the preceding year.

Year	% Change in
	Nominal GDP	Real GDP	GDP Deflator
2017
2018

From 2016 to 2017, _______ did not change; and from 2017 to 2018, ________ did not change.

Comparing the changes in 2017 and 2018, economic well-being increased more in _________