4) Calculating Real GDP Growth: Using the years 2017 and 2018 compute the real GDP growth...

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4) Calculating Real GDP Growth: Using the years 2017 and 2018 compute the real GDP growth rate for the year 2018 using the re

Year Nominal GDP GDP chain index (2012 = 100) Population 2007 1461 billion 2008 15145593 hillon 2009 5 14,620 billion 2010S15

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Answer 1

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Real GDP = nominal GDP / price index Real GDP2017= Nominal GDP 2017/CP12017 Real GDP2017 = 19,918.9/2.47901 = 8035.022 Real G

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