7. The following table shows nominal GDP and an appropriate price index for a group of selected...

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7. The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP.

Indicate in each calculation whether you are inflating or deflating the nominal GDP data. LO7.5

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Macroeconomics

ISBN: 9781259915673

21st Edition

Authors: Campbell McConnell, Stanley Brue , Sean Flynn

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Question Posted: Sep 28, 2024 07:00 AM

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7. The following table shows nominal GDP and an appropriate price index for a group of selected...

Question:

Year Nominal GDP, Billions Price Index (2005 = 100) Real GDP, Billions 1968 $ 909.8 22.01 1978 2,293.8 40.40 6A 1988 5,100.4 66.98 1998 8,793.5 85.51 $ 2008 14,441.4 108.48 $

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Macroeconomics

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