Answer these questions please Question 1 10 points The table below shows Nominal GDP, Real GDP, the

Answer these questions please

Transcribed Image Text:

Question 1 10 points The table below shows Nominal GDP, Real GDP, the GDP Deflator, and their growth rates. The growth rates show growth between 2002 and 2005, and between 2005 and 2010: Levels Growth Rates Year Nominal GDP Real GDP GDP Deflator Nominal GDP Growth (9) Real GDP Growth (%) Rate of Inflation (96) 2002 823,347.8 100 - - - 2005 863,495.13 104.53 9.62 4.53 2010 976,527.79 110.58 8.19 2.27 Enter your answers to 2 decimal places. Do not add dollar signs or commas separating 000's: (10 marks) Part 1: Calculate Nominal GDP for 2005: Number (2 marks) Part 2: Calculate Real GDP for 2010: Number (2 marks) Part 3: Estimate the rate of inflation for 2010: Number (2 marks) Part 4: How much did the economy grow between 2002 and 2010: Number (4 marks) Question 1 10 points The table below shows Nominal GDP, Real GDP, the GDP Deflator, and their growth rates. The growth rates show growth between 2002 and 2005, and between 2005 and 2010: Levels Growth Rates Year Nominal GDP Real GDP GDP Deflator Nominal GDP Growth (9) Real GDP Growth (%) Rate of Inflation (96) 2002 823,347.8 100 - - - 2005 863,495.13 104.53 9.62 4.53 2010 976,527.79 110.58 8.19 2.27 Enter your answers to 2 decimal places. Do not add dollar signs or commas separating 000's: (10 marks) Part 1: Calculate Nominal GDP for 2005: Number (2 marks) Part 2: Calculate Real GDP for 2010: Number (2 marks) Part 3: Estimate the rate of inflation for 2010: Number (2 marks) Part 4: How much did the economy grow between 2002 and 2010: Number (4 marks)