Question
Consider the following data for the UnitedStates: Date Nominal GDP (billions of dollars peryear) Price Index (base year2010) Real GDP (billions of dollars peryear, in
Consider the following data for the UnitedStates:
Date
Nominal GDP
(billions of dollars peryear)
Price Index
(base year2010)
Real GDP
(billions of dollars peryear,
in constant 2009dollars)
2013
2013
16 ,785
16,785
nbsp 97.10
97.10
16 ,495
16,495
2014
2014
17,522
17,522
nbsp 98.94
98.94
16,900
16,900
2015
2015
18,219
18,219
100.00
100.00
17,387
17,387
*Real-time data provided by Federal Reserve Economic Data(FRED), Federal Reserve Bank of Saint Louis.
Assuming the base year is now 2015
2015, complete the following (enter your responses rounded to one decimal place):
a. Recalculate the price index for years 2013
2013, 2014
2014 and 2015
2015.
b. Recalculate the real GDP for the years 2013
2013, 2014
2014, 2015
2015.
Price index (base year 2015) for 2013, 2014, 2015
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
