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22 The GDP price index in the United States in 2003 was about 94, and real GDP in 2003 was $11.6 trillion (2005 dollars). The

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The GDP price index in the United States in 2003 was about 94, and real GDP in 2003 was $11.6 trillion (2005 dollars). The GDP price index in the United States in 2007 was about 106, and real GDP in 2007 was $13.0 trillion (2005 dollars). Calculate nominal GDP in 2003 and in 2007 and the percentage increase in nominal GDP between 2003 and 2007. Nominal GDP in 2003 is trillion. Nominal GDP in 2007 is $ trillion. The percentage increase in the nominal GDP between 2003 and 2007 is percent

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