Question: Refer to the data below (all values are in billions): Year Nominal GDP GDP Deflator (in Billions of (Price Index, Dollars) 2009 = 100 2000

Refer to the data below (all values are in billions):

Refer to the data below (all values are in billions): Year Nominal

Year Nominal GDP GDP Deflator (in Billions of (Price Index, Dollars) 2009 = 100 2000 9,817 81.9 2001 10, 128 83.8 2002 10,469 85.0 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 92.0 2006 13, 178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 2011 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 Instructions: Enter your responses rounded to the nearest billion. a. Calculate real GDP for 2015 using 2005 prices. billion b. By how much did real GDP increase between 2005 and 2015? to billion c. By how much did nominal GDP increase between 2005 and 2015? $ billion

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