Calculate the value of nominal gdp in 1998

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Reference no: EM13245364

Except for the CPI index numbers, assume these figures represent billions of U.S. dollars.

Year CPI NGDIP RGDP
1997 $160.50 $7,110.00 ?
1998 $163.00 ? $4,896.47

Calculate the following:

a) The value of real GDP in 1997?

b) The value of nominal GDP in 1998?

c) The rate of inflation between 1997 and 1998?

d) The rate of growth of nominal GDP between 1997 and 1998?

e) The rate of growth of real GDP between 1997 and 1998?

Reference no: EM13245364

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