From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation. Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $) 2005 13095.4 91.99050 14235.6 2006 13857.9 94.81841 14615.2 2007 14480.3 97.33478 14876.8 2008 14720.3 99.23619 14833.6 2009 14417.9 100 14417.9 2010 14958.3 101.21047 14779.4 2011 15533.8 103.19816 15052.4 2012 16244.6 105.00236 15470.7 2013 16799.7 106.58829 15761.3 2014 17538.9 108.24744 16202.6 2015 18210.6 109.22537 16672.5 Source: Bureau of Economic Analysis.

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Answer 1

Question

Chapter 8, Problem eFCT

To determine

To show:

From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation.

Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $)

2005 13095.4 91.99050 14235.6

2006 13857.9 94.81841 14615.2

2007 14480.3 97.33478 14876.8

2008 14720.3 99.23619 14833.6

2009 14417.9 100 14417.9

2010 14958.3 101.21047 14779.4

2011 15533.8 103.19816 15052.4

2012 16244.6 105.00236 15470.7

2013 16799.7 106.58829 15761.3

2014 17538.9 108.24744 16202.6

2015 18210.6 109.22537 16672.5

Source: Bureau of Economic Analysis.

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Answer 2

Question

Chapter 8, Problem eFCT

To determine

To show:

From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation.

Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $)

2005 13095.4 91.99050 14235.6

2006 13857.9 94.81841 14615.2

2007 14480.3 97.33478 14876.8

2008 14720.3 99.23619 14833.6

2009 14417.9 100 14417.9

2010 14958.3 101.21047 14779.4

2011 15533.8 103.19816 15052.4

2012 16244.6 105.00236 15470.7

2013 16799.7 106.58829 15761.3

2014 17538.9 108.24744 16202.6

2015 18210.6 109.22537 16672.5

Source: Bureau of Economic Analysis.

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Answer 3

Question

Chapter 8, Problem eFCT

To determine

To show:

From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation.

Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $)

2005 13095.4 91.99050 14235.6

2006 13857.9 94.81841 14615.2

2007 14480.3 97.33478 14876.8

2008 14720.3 99.23619 14833.6

2009 14417.9 100 14417.9

2010 14958.3 101.21047 14779.4

2011 15533.8 103.19816 15052.4

2012 16244.6 105.00236 15470.7

2013 16799.7 106.58829 15761.3

2014 17538.9 108.24744 16202.6

2015 18210.6 109.22537 16672.5

Source: Bureau of Economic Analysis.

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Answer 4

Question

Chapter 8, Problem eFCT

To determine

To show:

From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation.

Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $)

2005 13095.4 91.99050 14235.6

2006 13857.9 94.81841 14615.2

2007 14480.3 97.33478 14876.8

2008 14720.3 99.23619 14833.6

2009 14417.9 100 14417.9

2010 14958.3 101.21047 14779.4

2011 15533.8 103.19816 15052.4

2012 16244.6 105.00236 15470.7

2013 16799.7 106.58829 15761.3

2014 17538.9 108.24744 16202.6

2015 18210.6 109.22537 16672.5

Source: Bureau of Economic Analysis.

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Answer 5

Chapter 8, Problem eFCT

To determine

To show:

From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation.

Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $)

2005 13095.4 91.99050 14235.6

2006 13857.9 94.81841 14615.2

2007 14480.3 97.33478 14876.8

2008 14720.3 99.23619 14833.6

2009 14417.9 100 14417.9

2010 14958.3 101.21047 14779.4

2011 15533.8 103.19816 15052.4

2012 16244.6 105.00236 15470.7

2013 16799.7 106.58829 15761.3

2014 17538.9 108.24744 16202.6

2015 18210.6 109.22537 16672.5

Source: Bureau of Economic Analysis.

Answer 6

Chapter 8, Problem eFCT

To determine

To show:

From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation.

Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $)

2005 13095.4 91.99050 14235.6

2006 13857.9 94.81841 14615.2

2007 14480.3 97.33478 14876.8

2008 14720.3 99.23619 14833.6

2009 14417.9 100 14417.9

2010 14958.3 101.21047 14779.4

2011 15533.8 103.19816 15052.4

2012 16244.6 105.00236 15470.7

2013 16799.7 106.58829 15761.3

2014 17538.9 108.24744 16202.6

2015 18210.6 109.22537 16672.5

Source: Bureau of Economic Analysis.

Answer 7

Chapter 8, Problem eFCT

To determine

To show:

From the following table it is to be identified in what years the economy suffered from a recession and to provide explanation.

Year Nominal GDP ($ billions per year) Price Index (Base year 2009 =100) Real GDP ($ billion per year, in constant 2009 $)

2005 13095.4 91.99050 14235.6

2006 13857.9 94.81841 14615.2

2007 14480.3 97.33478 14876.8

2008 14720.3 99.23619 14833.6

2009 14417.9 100 14417.9

2010 14958.3 101.21047 14779.4

2011 15533.8 103.19816 15052.4

2012 16244.6 105.00236 15470.7

2013 16799.7 106.58829 15761.3

2014 17538.9 108.24744 16202.6

2015 18210.6 109.22537 16672.5

Source: Bureau of Economic Analysis.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 8 - Prob. 8.1LO Ch. 8 - Prob. 8.2LO Ch. 8 - Prob. 8.3LO Ch. 8 - Prob. 8.4LO Ch. 8 - Prob. 8.5LO Ch. 8 - Prob. aFCT Ch. 8 - Prob. bFCT Ch. 8 - Prob. cFCT Ch. 8 - Prob. dFCT Ch. 8 - Prob. eFCT

Solution Summary: The author explains that nominal and real GDP declined from 2008 to 2009. The housing bubble busted in the US economy leading to a global recession.

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Chapter 8 Solutions

Year	Nominal GDP ($ billions per year)	Price Index (Base year 2009 =100)	Real GDP ($ billion per year, in constant 2009 $)
2005	13095.4	91.99050	14235.6
2006	13857.9	94.81841	14615.2
2007	14480.3	97.33478	14876.8
2008	14720.3	99.23619	14833.6
2009	14417.9	100	14417.9
2010	14958.3	101.21047	14779.4
2011	15533.8	103.19816	15052.4
2012	16244.6	105.00236	15470.7
2013	16799.7	106.58829	15761.3
2014	17538.9	108.24744	16202.6
2015	18210.6	109.22537	16672.5