Real and Nominal GDP in a Simple Economy, 2025-2027 Quantity of apples Quantity of computers Price of apples (dollars) Price of computers (dollars) Nominal GDP Real GDP in 2025 prices Real GDP in 2026 prices Real GDP in 2027 prices Real GDP in chained prices, benchmarked to 2027 2025 500 5 1 900 5,000 5,000 6,000 ? ? 2026 500 2 1,000 6,000 5,000 6,000 6,500 6,483 2027 550 6 3 1,000 7,650 ? 7,100 7,650 7,650 Percentage change 2026-2027 10.0 20.0 50.0 0.0 27.5 ? 18.3 17.7 18.0

Real and Nominal GDP in a Simple Economy, 2025-2027 Quantity of apples Quantity of computers Price of apples (dollars) Price of computers (dollars) Nominal GDP Real GDP in 2025 prices Real GDP in 2026 prices Real GDP in 2027 prices Real GDP in chained prices, benchmarked to 2027 2025 500 5 1 900 5,000 5,000 6,000 ? ? 2026 500 2 1,000 6,000 5,000 6,000 6,500 6,483 2027 550 6 3 1,000 7,650 ? 7,100 7,650 7,650 Percentage change 2026-2027 10.0 20.0 50.0 0.0 27.5 ? 18.3 17.7 18.0

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

TABLE 2.4
Real and Nominal GDP in a Simple Economy, 2025-2027
Quantity of apples
Quantity of computers
Price of apples (dollars)
Price of computers (dollars)
Nominal GDP
Real GDP in 2025 prices
Real GDP in 2026 prices
Real GDP in 2027 prices
Real GDP in chained prices,
benchmarked to 2027
2025
500
5
1
900
5,000
5,000
6,000
?
?
2026
500
5
1,000
6,000
5,000
6,000
6,500
6,483
2027
550
6
3
1,000
7,650
?
7,100
7,650
7,650
Percentage change
2026-2027
10.0
20.0
50.0
0.0
27.5
?
18.3
17.7
18.0

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