Price growth in Nominal Real GDP Index Real GDP Inflation GDP Year %ARGDP NGDP %100 1970 4.9 242.2 1971 5.6 281.6 1972 12.4 320.1 1973 18.9 385.7 1974 11.9 435.9 1975 11.8 567.3 1976 6.6 14.3 690.4 1977 14.7 6.9 795.4 1978 20.1 14.3 982.5 1979

Price growth in Nominal Real GDP Index Real GDP Inflation GDP Year %ARGDP NGDP %100 1970 4.9 242.2 1971 5.6 281.6 1972 12.4 320.1 1973 18.9 385.7 1974 11.9 435.9 1975 11.8 567.3 1976 6.6 14.3 690.4 1977 14.7 6.9 795.4 1978 20.1 14.3 982.5 1979

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

Complete the table

1970 is the base year.

growth in
Real GDP
Price
Nominal
Real GDP
Index
Inflation
GDP
Year
%ARGDP
NGDP
%100
1970
4.9
242.2
1971
5.6
281.6
1972
12.4
320.1
1973
18.9
385.7
1974
11.9
435.9
1975
11.8
567.3
1976
6.6
14.3
690.4
1977
14.7
6.9
795.4
1978
20.1
14.3
982.5
1979

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