The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. (Enter your responses rounded to one decimal place.) Nominal GDP (Billions of dollars) $10,284.8 Real GDP (Billions of dollars) Year 2000 Price Index 81.9 2004 $12,274.9 89.1 2008 $14,718.6 99.2 2012 $16,155.3 105.2 2015 $18,036.6 110.0

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 shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. (Enter your responses rounded to one decimal place.)
Real GDP (Billions
of dollars)
Price Index
81.9
89.1
Nominal GDP
Year (Billions of dollars)
2000
$10,284.8
2004
2008
2012
2015
$12,274.9
$14,718.6
$16,155.3
$18,036.6
99.2
105.2
110.0
Transcribed Image Text:The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. (Enter your responses rounded to one decimal place.) Real GDP (Billions of dollars) Price Index 81.9 89.1 Nominal GDP Year (Billions of dollars) 2000 $10,284.8 2004 2008 2012 2015 $12,274.9 $14,718.6 $16,155.3 $18,036.6 99.2 105.2 110.0
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