The following table shows nominal GDP and an appropriate price index group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. Instructions: Round your answers to one decimal place. Year 1981 1991 2001 2008 2011 2020 Nominal GDP (billions) 365.3 701.8 1144.5 1657.0 1774.1 2307.4 GDP deflator (2012 = 100) 46.3 68.7 81.1 94.1 99.4 110.4 $ $ $ $ $ $ Real GDP (billions) Effect on Nominal GDP (Click to select) ✓ V (Click to select) ✓ (Click to select) ✓ (Click to select) ✓ (Click to select) ✓ (Click to select) ✓

The following table shows nominal GDP and an appropriate price index group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. Instructions: Round your answers to one decimal place. Year 1981 1991 2001 2008 2011 2020 Nominal GDP (billions) 365.3 701.8 1144.5 1657.0 1774.1 2307.4 GDP deflator (2012 = 100) 46.3 68.7 81.1 94.1 99.4 110.4 $ $ $ $ $ $ Real GDP (billions) Effect on Nominal GDP (Click to select) ✓ V (Click to select) ✓ (Click to select) ✓ (Click to select) ✓ (Click to select) ✓ (Click to select) ✓

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please give me proper calculation and full explanation otherwose i give multiple downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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