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Calculate the rate of growth of real gdp

Assignment Help Macroeconomics
Reference no: EM13841643

Expenditure Component of GDP and Nominal vs. Real GDP

GDP Data




Year

 Nominal GDP

GDP Deflator

Year

 Nominal GDP

GDP Deflator

1969

 $     984.40

23.130

1991

 $  5,992.10

74.826

1970

 $  1,038.30

24.349

1992

 $  6,342.30

76.602

1971

 $  1,126.80

25.567

1993

 $  6,667.40

78.288

1972

 $  1,237.90

26.670

1994

 $  7,085.20

79.935

1973

 $  1,382.30

28.148

1995

 $  7,414.70

81.602

1974

 $  1,499.50

30.695

1996

 $  7,838.50

83.154

1975

 $  1,637.70

33.606

1997

 $  8,332.40

84.627

1976

 $  1,824.60

35.535

1998

 $  8,793.50

85.580

1977

 $  2,030.10

37.796

1999

 $  9,353.50

86.840

1978

 $  2,293.80

40.447

2000

 $  9,951.50

88.724

1979

 $  2,562.20

43.811

2001

 $10,286.20

90.731

1980

 $  2,788.10

47.817

2002

 $10,642.30

92.192

1981

 $  3,126.80

52.326

2003

 $11,142.20

94.134

1982

 $  3,253.20

55.514

2004

 $11,853.30

96.784

1983

 $  3,534.60

57.705

2005

 $12,623.00

100.000

1984

 $  3,930.90

59.874

2006

 $13,377.20

103.237

1985

 $  4,217.50

61.686

2007

 $14,028.70

106.231

1986

 $  4,460.10

63.057

2008

 $14,291.50

108.565

1987

 $  4,736.40

64.818

2009

 $13,973.70

109.532

1988

 $  5,100.40

67.047

2010

 $14,498.90

111.002

1989

 $  5,482.10

69.579

2011

 $15,075.70

113.369

1990

 $  5,800.50

72.274

2012

 $15,684.80

115.388

1. Show nominal GDP, the GDP price index for the data above for any 10 years; make sure that one of the years is the base year. Put both real and nominal GDP I the same graph.

2. Calculate the rate of growth of real GDP and show in the table below and draw the graph

Reference no: EM13841643

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