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Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:

Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:

Macroeconomics
Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section7.4: Real Gdp
Problem 2ST
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$2,460.20
 

$7,512.20
 

$8,563.40
 

$12,110.80
Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:
Transcribed Image Text:Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:
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