1. Which year serves as the base year for the GDP Deflator?

2Real GDP for 1930 (expressed in terms of base-year dollars) is $_____ billion.

3. Real GDP for 1940 (expressed in terms of base-year dollars) is $_____ billion.

4. Real GDP for 1950 (expressed in terms of base-year dollars) is $_____ billion.

5. Real GDP for 1960 (expressed in terms of base-year dollars) is $_____ billion.

6. Real GDP for 1970 (expressed in terms of base-year dollars) is $_____ billion.

7. Real GDP for 1980 (expressed in terms of base-year dollars) is $_____ billion.

8.Real GDP for 1990 (expressed in terms of base-year dollars) is $_____ billion.

9. Real GDP for 2000 (expressed in terms of base-year dollars) is $_____ billion.

10. Real GDP for 2010 (expressed in terms of base-year dollars) is $_____ billion.

11. Real GDP for 2020 (expressed in terms of base-year dollars) is $_____ billion.
 

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Consider the following hypothetical data for a national economy. For reference, please consult CH 5 Supplemental Handout #3. YEAR Nominal GDP GDP YEAR Deflator 1930 $2,000 billion 20 1980 Nominal GDP $9,000 billion GDP Deflator 75 1940 $2,500 billion 10 1990 $12,000 billion 80 1950 $5,000 billion 25 2000 $18,000 billion 100 1960 $7,000 billion 40 2010 $18,000 billion 120 1970 $10,000 billion 50 2020 $20,000 billion 125 Consider the following hypothetical data for a national economy. For reference, please consult CH 5 Supplemental Handout #3. YEAR Nominal GDP GDP YEAR Deflator 1930 $2,000 billion 20 1980 Nominal GDP $9,000 billion GDP Deflator 75 1940 $2,500 billion 10 1990 $12,000 billion 80 1950 $5,000 billion 25 2000 $18,000 billion 100 1960 $7,000 billion 40 2010 $18,000 billion 120 1970 $10,000 billion 50 2020 $20,000 billion 125

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the year 1930 serves as the base year for the GDP Deflator because the GDP Deflator for 1930 is list... View the full answer