The following table shows UK nominal GDP for the years 1990, 1992, 2008, 2010, 2019 and 2021.

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The following table shows UK nominal GDP for the years 1990, 1992, 2008, 2010, 2019 and 2021. It also shows the GDP deflator, where 2019 = 100.

1. Work out the real GDP for each year based on 2019 prices.

2. By what percentage did nominal GDP grow between 1990 and 1992; between 1992 and 2008; between 2008 and 2010; between 2010 and 2019; and between 2019 and 2021?

3. Now repeat (2) but this time for real GDP.

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Essential Economics For Business

ISBN: 9781292728940

7th Edition

Authors: John Sloman, Elizabeth Jones

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