(b) The table below shows GDP at current prices (money GDP) and an appropriate price index (the implicit price deflator) for a group of selected years. Compute GDP at constant 2014-15 prices (real GDP). Also calculate real GDP growth.         GDP at current prices Implicit price deflator   GDP at constant 2014-15 prices Economic Growth Year ($ million) (2014-15 = 100) Calculation ($ million)               2013-14 783514 97.2       2014–15 838011 100       2015-16 892999 104.1       2016-17 967721 108.4       2017-18 984450 110.1

ENGR.ECONOMIC ANALYSIS
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(b) The table below shows GDP at current prices (money GDP) and an appropriate price index (the implicit price deflator) for a group of selected years. Compute GDP at constant 2014-15 prices (real GDP). Also calculate real GDP growth.

 

 

 

 

GDP at current prices

Implicit price deflator

 

GDP at constant 2014-15 prices

Economic Growth

Year

($ million)

(2014-15 = 100)

Calculation

($ million)

 

 

 

 

 

 

 

2013-14

783514

97.2

 

 

 

2014–15

838011

100

 

 

 

2015-16

892999

104.1

 

 

 

2016-17

967721

108.4

 

 

 

2017-18

984450

110.1

 

 

 

 

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