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.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 19P

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Question

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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