Homework Answers
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
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