The following table gives nominal GDP and the price index for two years.Find real GDP in each year, and fill in the table. (Round your answers to two decimal places.)Nominal GDP9,900YearPrice indexReal GDP20101059428.57201111.38510910444.95The growth rate of real GDP between 2010 and 2011 was %. (Round your answer to two decimal places.)

Growth rate = (value in 2011 / value in 2010) - 1

The following table gives nominal GDP and the price index for two years. Find real GDP in each year, and fill in the table. (Round your answers to two decimal places) Year 2010 Nominal GDP Price index 9,900 Real GDP 105 9428.57 2011 11,385 109 10444.95 The growth rate of real GDP between 2010 and 2011 was%. (Round your answer to two decimal places.)

The following table gives nominal GDP and the price index for two years. Find real GDP in each year, and fill in the table. (Round your answers to two decimal places) Year 2010 Nominal GDP Price index 9,900 Real GDP 105 9428.57 2011 11,385 109 10444.95 The growth rate of real GDP between 2010 and 2011 was%. (Round your answer to two decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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