1) If nominal GDP is $7636.0 billion and the GDP deflator is 130.2, then what is realGDP?2) If the Consumer Price Index rose from 166.3 in 1985 to 380.1 in 2010, whatwould be the inflation rate over this period?

Real gross domestic product is a macroeconomic measure of the value of economic output adjusted for…

Answered: GDP? If the Consumer Price Index rose…

GDP? If the Consumer Price Index rose from 166.3 in 1985 to 380.1 in 2010, what would be the inflation rate over this neriod?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Inflation

Section: Chapter Questions

Problem 8SQP

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Question

1) If nominal GDP is $7636.0 billion and the GDP deflator is 130.2, then what is real
GDP?
2) If the Consumer Price Index rose from 166.3 in 1985 to 380.1 in 2010, what
would be the inflation rate over this period?

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