1. a. Use the information in the table below to calculate the real 2015 GDP, in 2009 dollars. U.S. Nominal GDP and Price Level, 2006-2015 Nominal GDP Price Level Year (billions of dollars) (GDP deflator) 2006 13,855.9 95 2007 14,477.6 14,718.6 97 2008 99 2009 14,418.7 100 2010 14,964.4 101 2011 15,517.9 16,155.3 16,663.2 17,348.1 17,937.8 103 2012 105 2013 107 2014 109 2015 110
1. a. Use the information in the table below to calculate the real 2015 GDP, in 2009 dollars. U.S. Nominal GDP and Price Level, 2006-2015 Nominal GDP Price Level Year (billions of dollars) (GDP deflator) 2006 13,855.9 95 2007 14,477.6 14,718.6 97 2008 99 2009 14,418.7 100 2010 14,964.4 101 2011 15,517.9 16,155.3 16,663.2 17,348.1 17,937.8 103 2012 105 2013 107 2014 109 2015 110
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Short Answer
1. a. Use the information in the table below to calculate the real 2015 GDP, in 2009 dollars.
U.S. Nominal GDP and Price Level, 2006-2015
Nominal GDP
Price Level
Year
(billions of dollars)
(GDP deflator)
2006
13,855.9
14,477.6
95
2007
97
2008
14,718.6
99
2009
14,418.7
14,964.4
15,517.9
16,155.3
16,663.2
17,348.1
17,937.8
100
2010
101
2011
103
2012
105
2013
107
2014
109
2015
110](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb3c72369-44b3-47dd-882a-c452c7862f55%2F08ebb1c9-9133-46ed-8c86-f3aaf01f802d%2Fxvycd9p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Short Answer
1. a. Use the information in the table below to calculate the real 2015 GDP, in 2009 dollars.
U.S. Nominal GDP and Price Level, 2006-2015
Nominal GDP
Price Level
Year
(billions of dollars)
(GDP deflator)
2006
13,855.9
14,477.6
95
2007
97
2008
14,718.6
99
2009
14,418.7
14,964.4
15,517.9
16,155.3
16,663.2
17,348.1
17,937.8
100
2010
101
2011
103
2012
105
2013
107
2014
109
2015
110
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