Calculate the percentage change in nominal gdp and real gdp

Assignment Help Macroeconomics

Reference no: EM13182755

Below are nominal GDP and GDP deflators for four years:

Year Nominal GDP, blns GDP Deflator

2010 $12,000 100

2011 13,000 104

2012 14,490 105

2013 14,800 110

a. Calculate real GDP in each year using 2010 as the base year. Present your results in a table by adding a column titled "Real GDP, blns" to the right of the above table.

b. Calculate the percentage change in nominal GDP and real GDP (add two new columns to the table to illustrate your results). Did the growth in

nominal GDP ever exceed growth in real GDP in any of the last three years? In what year? How does inflation explain it (if it does at all)?

Reference no: EM13182755

Questions Cloud

Explain types of intermolecular forces : What types of intermolecular forces would you expect to exist among molecules of 1-butanol? (Select all that apply.)

Find the profit-maximizing output level : You are the manager of a company that vaccinates human beings for biological diseases. Your company uses two inputs to produce vaccinations: physicians and laboratories. However, this is a short-run analysis where physicians are variable but labor..

How many grams of dipotassium phthalate potassium hydrogen : How many grams of dipotassium phthalate (242.3 g/mol) must be added to 700 mL of 0.175 M potassium hydrogen phthalate to give a buffer of pH 6.00?

State the condensed structural formula of the ester : Write the condensed structural formula of the ester formed when each of the following reacts with methyl alcohol

Calculate the percentage change in nominal gdp and real gdp : Calculate real GDP in each year using 2010 as the base year. Present your results in a table by adding a column titled "Real GDP, blns" to the right of the above table. Calculate the percentage change in nominal GDP and real GDP (add two new colu..

State the membrane fluidity of lipid bilayers : Assume that we are comparing the membrane fluidity of lipid bilayers. Rank the fluidity of the following bilayers in the order of increasing fluidity. Explain in each case the rationale behind your prediction

How much revenue will the government get : There are three firms in an economy: A, B, and C. Firm A buys $250 worth of goods from firm B and $200 worth of goods from firm C, and produces 200 units of output, which it sells at $5 per unit. Firm B buys $100 worth of goods from firm A and $15..

State vesicle created from a biological membrane : Let us assume that we are working with a vesicle created from a biological membrane and wish to determine whether the various proteins are integral or peripheral and exposed to which side of the membrane

Strategic objectives this information system address : What strategic objectives this Information System address and in each strategic objective (from answer 1), how does Information System improve business process?

User Account

All Pages