Answered: The CPI for the year 2005 was 110 and…

The CPI for the year 2005 was 110 and the Nominal GDP for that year was $ 67,500 million. Determine the Real GDP for that year. The base year is 2002.

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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The CPI for the year 2005 was 110 and the
Nominal GDP for that year was $ 67,500
million. Determine the Real GDP for that year.
The base year is 2002.

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