The following table gives nominal GDP and the price index for two years. Find real GDP in each year, and fill in the table. (Round your answers to two decimal places) Year 2010 Nominal GDP Price index 9,900 Real GDP 105 9428.57 2011 11,385 109 10444.95 The growth rate of real GDP between 2010 and 2011 was%. (Round your answer to two decimal places.)

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
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The following table gives nominal GDP and the price index for two years.
Find real GDP in each year, and fill in the table. (Round your answers to two decimal places.)
Nominal GDP
9,900
Year
Price index
Real GDP
2010
105
9428.57
2011
11.385
109
10444.95
The growth rate of real GDP between 2010 and 2011 was %. (Round your answer to two decimal places.)
Transcribed Image Text:The following table gives nominal GDP and the price index for two years. Find real GDP in each year, and fill in the table. (Round your answers to two decimal places.) Nominal GDP 9,900 Year Price index Real GDP 2010 105 9428.57 2011 11.385 109 10444.95 The growth rate of real GDP between 2010 and 2011 was %. (Round your answer to two decimal places.)
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