d. What is the percentage change in nominal GOP between 2010 and 2019 attributed to changing prices? e. What is the percentage change in nominal GDP between 2010 and 2019 attributed to a growing economy?

d. What is the percentage change in nominal GOP between 2010 and 2019 attributed to changing prices? e. What is the percentage change in nominal GDP between 2010 and 2019 attributed to a growing economy?

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

Solve d and e onlys

Instructions: For parts a, c, d, and e, enter your responses as a percentage rounded to one decimal place. For part b, round your
response to the nearest billion.
a. Calculate the percentage change in nominal GDP between 2010 and 2019.
b. Calculate real GDP in 2019 at prices of 2010.
C. Calculate the percentage change in real GDP between 2010 and 2019.
d. What is the percentage change in nominal GOP between 2010 and 2019 attributed to changing prices?
e. What is the percentage change in nominal GDP between 2010 and 2019 attributed to a growing economy?

Chain-Weignted Price
Deflators (Index) for GDP
2012
Nominal GDP
Year
(in Billions)
100 (Base Year)
2000
$9,817
78.1
2001
10,128
79.8
2002
10,469
81.0
2003
10,960
82.6
2004
11,685
84.8
ook
2005
12,422
87.4
Fint
» 2006
13,178
90.1
2007
13,808
92.5
ences
2008
14,291
94.3
2009
13,939
95.0
2010
14,527
96 1
2011
15,518
98.1
2012
16,163
100.0
2013
16,768
101.8
2014
17,393
103.6
2015
18,037
104.6
2016
18,754
105.7
2017
19,543
107.8
2018
20,612
110.3
2019
21,433
112.3

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