The following table shows nominal GDP and an appropriate price index for a group of selected years.
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Nominal GDP Price IndexReal GDP Year 1960 1968 1978 1988 1998 Billions S527.4 911.5 2295.9 4742.5 8790.2 (1996 100) Billions 22.19 26.29 48.22 80.22 103.22 S? S? S?
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Computation of Real GDP Year Nominal GDPBillions Price index 1996 100 Real GDP B...View the full answer
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Economics
ISBN: 978-0073375694
18th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn
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