Given the data table below: Year 2015 2016 2017 2018 2019 2020 GDP Deflator, Real GDP, 2015-100 2015-100 100.00 100.40 103.30 106.90 106.50 103.30 423,444.10 438,712.15 458,776.09 475,673.62 480,957.65 461,185.67 Find the nominal GDP for the year 2018

Given the data table below: Year 2015 2016 2017 2018 2019 2020 GDP Deflator, Real GDP, 2015-100 2015-100 100.00 100.40 103.30 106.90 106.50 103.30 423,444.10 438,712.15 458,776.09 475,673.62 480,957.65 461,185.67 Find the nominal GDP for the year 2018

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter6: How Statisticians Measure Inflation

Section6.A: How Statisticians Measure Inflation

Problem 2TY

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Question

Given the data table below:
Year
2015
2016
2017
2018
2019
2020
1.
GDP Deflator, Real GDP.
2015-100
2015-100
100.00
100.40
103.30
106.90
106.50
103.30
423,444.10
438,712.15
458,776.09
475,673.62
480,957.65
461,185.67
Find the nominal GDP for the year 2018

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