Consider the table belowYearCPICPI InflationReal GDPNominal GDPGDP DeflatorGDP Inflation200594.27x4726.504480.0094.78x2006100.00a5090.50d100.005.502007b3.425430.855655.95104.14e2008117.18cf6887.00117.3412.67Based on the values of the table, what is the value of f ? (Please round your answer to include 2 decimal places.)

Here, information related to GDP inflation and GDP deflator is given for different years.According to the given table, value of f will provide information about real GDP in 2008. Using the given information, value of f would be: Real GDP=(nominal GDP/GDP deflator)×100 Real GDP=(6887.00/117.34)×100 Real GDP=5,869.27 f=5,869.27

Answered: Consider the table below Year CPI CPI…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the table below

Year	CPI	CPI Inflation	Real GDP	Nominal GDP	GDP Deflator	GDP Inflation
2005	94.27	x	4726.50	4480.00	94.78	x
2006	100.00	a	5090.50	d	100.00	5.50
2007	b	3.42	5430.85	5655.95	104.14	e
2008	117.18	c	f	6887.00	117.34	12.67

Based on the values of the table, what is the value of f ? (Please round your answer to include 2 decimal places.)

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