The following table contains data on the fictional country of Penguinia. Presented are the country's nominal GDP, real GDP, and the GDP chain price index for various years. The base year for the chain price index is 2011.Using the data in the table, fill in the blank cells with the correct values.YearNominal GDPReal GDPGDP Chain Price Index2014$8,766$6,871127.582017$8,699 119.082020$9,203$7,926 From 2014 to 2017, nominal GDP ________ by __________ , while real GDP _______ by ___________ . 6. The GDP Chain Price IndexThe following table contains data on the fictional country of Penguinia. Presented are the country's nominal GDP, real GDP, and the GDP chain priceindex for various years. The base year for the chain price index is 2011.Using the data in the table, fill in the blank cells with the correct values.Year Nominal GDP201420172020$8,766$8,699$9,203Real GDP$6,871$7,926From 2014 to 2017, nominal GDPGDP Chain Price Index127.58119.08bywhile real GDPby

Introduction: The GDP chain price index is a measure of the change in the prices of all goods and…

Answered: The following table contains data on…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table contains data on the fictional country of Penguinia. Presented are the country's nominal GDP, real GDP, and the GDP chain price index for various years. The base year for the chain price index is 2011.

Using the data in the table, fill in the blank cells with the correct values.

Year	Nominal GDP	Real GDP	GDP Chain Price Index
2014	$8,766	$6,871	127.58
2017	$8,699		119.08
2020	$9,203	$7,926

From 2014 to 2017, nominal GDP ________ by __________ , while real GDP _______ by ___________ .

6. The GDP Chain Price Index
The following table contains data on the fictional country of Penguinia. Presented are the country's nominal GDP, real GDP, and the GDP chain price
index for various years. The base year for the chain price index is 2011.
Using the data in the table, fill in the blank cells with the correct values.
Year Nominal GDP
2014
2017
2020
$8,766
$8,699
$9,203
Real GDP
$6,871
$7,926
From 2014 to 2017, nominal GDP
GDP Chain Price Index
127.58
119.08
by
while real GDP
by

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