2. Fill in the blanks:Real GDPNominal GDPGDP Deflator(in 2000dollars)(in currentdollars)(base year2000)Year7.19703,0001,20019805,0006019906,00010020008,000201015,000200202010,000300203020,00050,000

Gross domestic product (GDP) refers to the total value of all the final goods and services that…

2. Fill in the blanks: Real GDP Nominal GDP GDP Deflator (base year (in 2000 dollars) (in current dollars) Year 2000) 1970 3,000 1,200 1980 5,000 60 1990 6,000 100 2000 8,000 2010 15,000 200 2020 10,000 300 2030 20,000 50,000

2. Fill in the blanks: Real GDP Nominal GDP GDP Deflator (base year (in 2000 dollars) (in current dollars) Year 2000) 1970 3,000 1,200 1980 5,000 60 1990 6,000 100 2000 8,000 2010 15,000 200 2020 10,000 300 2030 20,000 50,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2. Fill in the blanks:
Real GDP
Nominal GDP
GDP Deflator
(in 2000
dollars)
(in current
dollars)
(base year
2000)
Year
7.
1970
3,000
1,200
1980
5,000
60
1990
6,000
100
2000
8,000
2010
15,000
200
2020
10,000
300
2030
20,000
50,000

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