Instructions: For parts a, c, d, and e, enter your responses as a percentage rounded to one decimal place. For part b, round your response to the nearest billion. a. Calculate the percentage change in nominal GDP between 2010 and 2016. | % b. Calculate real GDP in 2016 at prices of 2010. $ c. Calculate the percentage change in real GDP between 2010 and 2016. d. What is the percentage change in nominal GDP between 2010 and 2016 attributed to changing prices? | % e. What is the percentage change in nominal GDP between 2010 and 2016 attributed to a growing economy? %
Instructions: For parts a, c, d, and e, enter your responses as a percentage rounded to one decimal place. For part b, round your response to the nearest billion. a. Calculate the percentage change in nominal GDP between 2010 and 2016. | % b. Calculate real GDP in 2016 at prices of 2010. $ c. Calculate the percentage change in real GDP between 2010 and 2016. d. What is the percentage change in nominal GDP between 2010 and 2016 attributed to changing prices? | % e. What is the percentage change in nominal GDP between 2010 and 2016 attributed to a growing economy? %
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 11SQ
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Using the data in the table below related to nominal GDP and the chain-weighted price deflators for
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