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6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5 Year 1960 1970 1980 1990 199
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Answer #1

6) Real GDP = Nominal GDP/GDP Deflator*100

Nominal GDP = Real GDP/100*GDP Deflator

GDP Deflator = Nominal GDP/Real GDP*100

Real GDP in 1960 = 526.4/21*100 = 2506.7

Real GDP in 1970 = 1038.5/27.5*100 = 3776.4

GDP Deflator in 1980 = 2789.5/5165.7*100 = 54

Nominal GDP in 1990 = 7112.5/100*81.6 = 5803.8

GDP Deflator in 1995 = 7397.7/8032.2*100 = 92.1

Real GDP in 2000 = 9817/100*100 = 9817

Real GDP in 2003 = 11004.1/106*100 = 10381.2

As per HOMEWORKLIB RULES, the first question is answered

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6. Complete the following table: Real GDP Nominal GDP 526.4 1038.5 2789.5 GDP Deflator 21.0 27.5...
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