Please ensure your response includes an accurate answer along with a thorough explanation and clear calculation. To maintain the integrity of the solution, please do not use ChatGPT or submit handwritten responses. Originality is essential, so avoid any form of plagiarism. A complete and precise answer will be appreciated with an upvote. How much of the nominal GDP growth from 1980 to 1990 was real GDP growth? How much of the nominal GDP growth from 1980 to1990 was inflation.YearNominal GDP (billions of dollars)GDP Deflator (2005 = 100)1960543.319.01965743.720.319701,075.924.819751,688.934.119802,862.548.319854,346.762.319905,979.672.719957,664.081.7200010,289.789.0200513,095.4100.0201014.958.3110.0

Real GDP measures the purchases of final goods and services produced in the economy corrected for…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please ensure your response includes an accurate answer along with a thorough explanation and clear calculation. To maintain the integrity of the solution, please do not use ChatGPT or submit handwritten responses. Originality is essential, so avoid any form of plagiarism. A complete and precise answer will be appreciated with an upvote.

How much of the nominal GDP growth from 1980 to 1990 was real GDP growth? How much of the nominal GDP growth from 1980 to
1990 was inflation.
Year
Nominal GDP (billions of dollars)
GDP Deflator (2005 = 100)
1960
543.3
19.0
1965
743.7
20.3
1970
1,075.9
24.8
1975
1,688.9
34.1
1980
2,862.5
48.3
1985
4,346.7
62.3
1990
5,979.6
72.7
1995
7,664.0
81.7
2000
10,289.7
89.0
2005
13,095.4
100.0
2010
14.958.3
110.0

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