Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica. Year Real GDP GDP deflator $30,777 105 усar 1 year 2 $10,557 123 уear 3 $40,977 100 The base year, or base period, is year 3. For the given years, calculate the nominal GDP. Round your answers to the nearest dollar. What is the nominal GDP for year 1? year 1: S
Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica. Year Real GDP GDP deflator $30,777 105 усar 1 year 2 $10,557 123 уear 3 $40,977 100 The base year, or base period, is year 3. For the given years, calculate the nominal GDP. Round your answers to the nearest dollar. What is the nominal GDP for year 1? year 1: S
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
Problem 7PA
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![Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica.
Year
Real GDP
GDP deflator
уear 1
$30,777
105
year 2
$10,557
123
уear 3
$40,977
100
The base year, or base period, is year 3. For the given years, calculate the nominal GDP. Round your answers to the
nearest dollar.
What is the nominal GDP for year 1?
year 1: S](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4c6a5b14-6dd2-4b25-ba82-d7f61f099c3d%2F03a6298e-bfc3-48b4-9b2c-d8b85dd57a7f%2F8fg66s8_processed.png&w=3840&q=75)
Transcribed Image Text:Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica.
Year
Real GDP
GDP deflator
уear 1
$30,777
105
year 2
$10,557
123
уear 3
$40,977
100
The base year, or base period, is year 3. For the given years, calculate the nominal GDP. Round your answers to the
nearest dollar.
What is the nominal GDP for year 1?
year 1: S
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