Consider the following hypothetical economy with the following economic data. Nominal GDP GDP Deflator Year (Dollars) (Dollars) 2010 $325 100 2011 $1,260 315 2012 $1,280 400 Use the information from the previous table to fill in the following table. Hint: You will need to convert all the nominal values above into real 2010 dollars using the GDP deflator. Round your results to the nearest whole dollar when entering your answers. Real GDP (Dollars) Year (Base year 2010) 2010 2011 2012

Consider the following hypothetical economy with the following economic data. Nominal GDP GDP Deflator Year (Dollars) (Dollars) 2010 $325 100 2011 $1,260 315 2012 $1,280 400 Use the information from the previous table to fill in the following table. Hint: You will need to convert all the nominal values above into real 2010 dollars using the GDP deflator. Round your results to the nearest whole dollar when entering your answers. Real GDP (Dollars) Year (Base year 2010) 2010 2011 2012

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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