The accompanying table provides the annual real GDP (in billions of 2009 dollars) and nominal GDP (in
Question:
The accompanying table provides the annual real GDP
(in billions of 2009 dollars) and nominal GDP (in billions of dollars) for the United States.
a. Calculate the GDP deflator for each year.
b. Use the GDP deflator to calculate the inflation rate for all years except 2009.
Transcribed Image Text:
2009 Nominal GDP 2010 2011 2012 2013 Real GDP (billions 14,417.9 14,779.4 15,052.4 15,470.7 15,761.3 of 2009 dollars) (billions 14,417.9 14,958.3 15,533.8 16,244.6 16,799.7 of dollars)
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