am. 133. The following table lists hypothetical values.(1)(2)(3)(4)(5)(6)(7)(8)RealNominalYearGDPGDPDeflator (baseyear = 2020)GDP (baseyear=Percentagechange in real Deflator (baseGDPRealGDP (basePercentagechange in2020)GDP=year 2022)=year 2022)real GDP2018 $990.0090S81.820191,030.009283.620201,060.0010090.920211,210.0010595.520221,410.00110100Fill in Column (4) by calculating real GDP using the GDP deflator with a base year of 2020 from Column (3).Fill in Column (7) by calculating real GDP using the GDP deflator with a base year of 2022 from Column (6).(Enter your responses rounded to the nearest whole number.)Fill in Column (5) by calculating the annual percentage change in real GDP for each year using the values from Column (4).Fill in Column (8) by calculating the annual percentage change in real GDP for each year using the values from Column (6).(Enter your responses rounded to two decimal places and include a minus sign if necessary.)

Real GDP, or Gross Domestic Product, is a measure of the economic performance and output of a…

Answered: The following table lists hypothetical…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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