Year CPI

2000 515.8

2001 530.4

2002 538.8

2003 551.1

2004 565.8

2005 585.0

2008 645.0

2009 642.7

1. The nominal GDP of U. S. was $14.7 trillion in 2008 and $14.4 trillion in 2009. Compute the real percentage rate of change in GDP for that period. (Use the CPI data provided to compute the inflation rate.)

2. Based in the following data compute the annual rate of change in the nominal and real GDP from 2000 to 2005.

Year Nominal GDP

2000 10.3 trillion

2005 13.1 trillion