The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2013 and 2014. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. Fill in the columns for the GDP deflator and for the percent increase in price level. (Round your responses to two decimal places!)QuarterNominal GDPReal GDPGDP DeflatorPercent Increase in Price Level (%)2013 Q116,502.4015,538.40106.20----2013 Q216,619.2015,606.60??2013 Q316,872.3015,779.90??2013 Q417,078.3015,916.20??2014 Q117,044.0015,831.70??2014 Q217,328.2016,010.40??2014 Q317,599.8016,205.60??2014 Q417,703.7016,294.70??Please explain how to solve the empty columns thank you!

The value of all the output produced in an economy over the course of a fiscal year is typically…

Answered: real GDP data, in billions of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2013 and 2014. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. Fill in the columns for the GDP deflator and for the percent increase in price level.

(Round your responses to two decimal places!)

Quarter	Nominal GDP	Real GDP	GDP Deflator	Percent Increase in Price Level (%)
2013 Q1	16,502.40	15,538.40	106.20	----
2013 Q2	16,619.20	15,606.60	?	?
2013 Q3	16,872.30	15,779.90	?	?
2013 Q4	17,078.30	15,916.20	?	?
2014 Q1	17,044.00	15,831.70	?	?
2014 Q2	17,328.20	16,010.40	?	?
2014 Q3	17,599.80	16,205.60	?	?
2014 Q4	17,703.70	16,294.70	?	?