Course Answers

BUSINESS
COMPUTER SCIENCE
OTHER COURSES
My Profile

Solved: Chapter 7 Homework Help Save & Exit Check M The Following Table Shows Nominal GDP And An Appropriate Prica Index For A Group Of Sele Ued Years. Compute Real GDP. Indicate In Each Calculation W

By |

Chapter 7 Homework Help Save & Exit Check m The following table shows nominal GDP and an appropriate prica index for a group


Chapter 7 Homework Help Save & Exit Check m The following table shows nominal GDP and an appropriate prica index for a group of sele ued years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. 10 Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. points Nominal GDP Billions Price Index (2005 100) Year Real GDP, Billions Effect on Nom GDP 1968 $929.80 24.01 eBook 1978 2313.80 42.40 1988 5120.40 68.98 1998 8813.50 87.51 Print 2008 14461.40 110.48 References

Answer Preview

Answer: 1. Real GDP in year 1968 = {(Price index in 2005)/(Price index in 1968)}*(Nominal GDP in 1968) = (100/24.01)*929.8 = $3872.55 billion Si

Get Answer Now


Buy (USD $9.00)

Get Answer Now

Answered
Buy @ USD $9.00
Related Questions

OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES