The accompanying table provides the annual real GDP (in billions of 2005 dollars) and nominal GDP (in
Question:
The accompanying table provides the annual real GDP
(in billions of 2005 dollars) and nominal GDP (in billions of dollars) for the United States.
2007 2008 2009 2010 2011 Real GDP
(billions of 2005 dollars)
13,206.4 13,161.9 12,703.1 13,088.0 13,299.1 Nominal GDP
(billions of dollars)
14,028.7 14,291.5 13,939.0 14,526.5 15,075.7
a. Calculate the GDP deflator for each year.
b. Use the GDP deflator to calculate the inflation rate for all years except 2007.
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Related Book For 
Essentials Of Economics
ISBN: 9781429278508
3rd Edition
Authors: Paul Krugman, Robin Wells, Kathryn Graddy
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