Below you will find nominal GDP and the GDP deflator (based on 2000 = 100) for the
Question:
a. Compute real GDP for each year.
b. Compute the percentage change in nominal and real GDP from 1987 to 1997, and from 1997 to 2007.
c. Compute the percentage change in the GDP deflator over these twoperiods.
Transcribed Image Text:
GDP Statistics 1987 1997 2007 Nominal GDP (Billions of dollars) GDP deflator 4,740 8,304 73.2 95.4 119.7 13,843
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Related Book For
Macroeconomics Principles And Policy
ISBN: 9780324586213
11th Edition
Authors: William J. Baumol, Alan S. Blinder
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