### Economic Data Analysis (2010-2019)Using the data in the table below related to nominal GDP, real GDP, and total population, answer the questions for the time period 2010–2019:| Year | Nominal GDP (in Millions) | Real GDP (in Millions) (2012 Base Year) | Population (in Millions) ||------|-----------------------------|----------------------------------------|--------------------------|| 2000 | $9,817,000 | $13,131,000 | 282.4 || 2001 | $10,128,000 | $13,262,000 | 285.5 || 2002 | $10,469,000 | $13,493,000 | 288.6 || 2003 | $10,960,000 | $13,693,000 | 291.0 || 2004 | $11,685,000 | $14,406,000 | 293.7 || 2005 | $12,421,000 | $14,613,000 | 296.6 || 2006 | $13,178,000 | $15,338,000 | 299.8 || 2007 | $13,957,000 | $15,605,000 | 302.0 || 2008 | $14,291,000 | $15,605,000 | 304.9 || 2009 | $13,939,000 | $15,209,000 | 307.0 || 2010 | $14,526,000 | $15,599,000 | 309.4 || 2011 | $15,094,000 | $15,841,000 | 311.7 || 2012 | $15,658,000 | $16,197,000 | 314.1 || 2013 | $16,323,000 | $16,495,000 | 316.2 || 2014 | $17,021,000 | $17,093,000 | 318.6 || 2015 | $18,037

Real GDP measures the total value of all products and services that have crossed final stage of…

Answered: a. Calculate nominal and real GDP per…

a. Calculate nominal and real GDP per capita for 2010 and 2019. For 2010: Nominal GDP per capita - $ Real GDP per capita - $ For 2019: Nominal GDP per capita - $ Real GDP per capita -

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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