Analyse the table below: Nominal GDP (millions) Price index With 1965 as the base year..... 1965...

 

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Analyse the table below: Nominal GDP (millions) Price index With 1965 as the base year..... 1965 800 100 Blank # 1 1970 1100 120 Blank # 2 Blank # 3 1975 1500 160 BOX 1: How much did real GDP grow between 1970 and 1980 (in MILLIONS of dollars)? Blank # 4 BOX 2: By what percent did real GDP grow between 1970 and 1980? BOX 3: How much did real GDP grow between 1980 and 1990 (in MILLLIONS dollars)? BOX 4: By what percent did real GDP grow between 1980 and 1990? A/ 1980 2500 250 N 1985 3500 300 A A/ 1990 5000 420 Analyse the table below: Nominal GDP (millions) Price index With 1965 as the base year..... 1965 800 100 Blank # 1 1970 1100 120 Blank # 2 Blank # 3 1975 1500 160 BOX 1: How much did real GDP grow between 1970 and 1980 (in MILLIONS of dollars)? Blank # 4 BOX 2: By what percent did real GDP grow between 1970 and 1980? BOX 3: How much did real GDP grow between 1980 and 1990 (in MILLLIONS dollars)? BOX 4: By what percent did real GDP grow between 1980 and 1990? A/ 1980 2500 250 N 1985 3500 300 A A/ 1990 5000 420

Answer rating: 100% (QA)

To analyze the table and answer the questions we need to calculate the real GDP values using the price index and the base year Lets perform the calcul... View the full answer