Question

In order to find 2016 GDP in chained 2017 dollars, you would need to compute all but one of the following.  Which is unnecessary?

Hints:  (1) start by writing an equation to show how 2016 GDP is related to 2017 GDP (in chained 2017 dollars).  If you are not sure how to do this, go back to the lecture slides or to the reading "Numerical Example of Chain Weighting."  (2) in the answers below, the phrase "in constant [year] dollars" refers to a fixed-weight calculation.  

a) current-dollar GDP in 2017
b) 2017 GDP in constant 2016 dollars
c) 2016 GDP in constant 2015 dollars
d) current-dollar GDP in 2016
e) 2016 GDP in constant 2017 dollars
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Macroeconomics: Private and Public Choice (MindTap Course List)
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ISBN: 9781305506756
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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