The accompanying table provides the annual real GDP (in billions of 2012 dollars) and nominal GDP...
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The accompanying table provides the annual real GDP (in billions of 2012 dollars) and nominal GDP (in billions of dollars) for the United States. Round answers to one place after the decimal. Real GDP (billions of 2012 dollars) Nominal GDP (billions of dollars) 16.197 16,785 GDP deflator for 2012: a. Calculate the GDP deflator for each year. GDP deflator for 2013: GDP deflator for 2014: GDP deflator for 2015: GDP deflator for 2016: 2012 2013 2014 2015 2016 2017 2018 GDP deflator for 2017: 16,197 GDP deflator for 2018: 16,495 16,912 17,404 17,689 18,108 18,638 18,225 18,715 19,519 20,580 17,527 0000 b. Use the GDP deflator to calculate the inflation rate for all years except 2012. Do not calculate an inflation rate for 2012. Inflation rate for 2013: Inflation rate for 2014: Inflation rate for 2015: Inflation rate for 2016: Inflation rate for 2017: Inflation rate for 2018: % de % % % % The accompanying table provides the annual real GDP (in billions of 2012 dollars) and nominal GDP (in billions of dollars) for the United States. Round answers to one place after the decimal. Real GDP (billions of 2012 dollars) Nominal GDP (billions of dollars) 16.197 16,785 GDP deflator for 2012: a. Calculate the GDP deflator for each year. GDP deflator for 2013: GDP deflator for 2014: GDP deflator for 2015: GDP deflator for 2016: 2012 2013 2014 2015 2016 2017 2018 GDP deflator for 2017: 16,197 GDP deflator for 2018: 16,495 16,912 17,404 17,689 18,108 18,638 18,225 18,715 19,519 20,580 17,527 0000 b. Use the GDP deflator to calculate the inflation rate for all years except 2012. Do not calculate an inflation rate for 2012. Inflation rate for 2013: Inflation rate for 2014: Inflation rate for 2015: Inflation rate for 2016: Inflation rate for 2017: Inflation rate for 2018: % de % % % %
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Certainly lets proceed with the calculations a Calculate the GDP deflator for each year using the f... View the full answer
Related Book For
Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
Posted Date:
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