Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Question
Chapter 19, Problem 19.6RDE
Subpart (a):
To determine
The nominal and real GDP.
Subpart (b):
To determine
The GDP deflator.
Subpart (c):
To determine
The inflation rate
Subpart (d):
To determine
The GDP deflator.
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Students have asked these similar questions
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
Consider the following table.
Price Price
Goods Production Import Export
(2019) (2020)
Good
49
17
18
A
Good
36
10
19
B
Good
22
11
8
C
Good
59
59
46
39
Calculate the following (give your answer in
2-decimal places when applicable):
a. The GDP for 2019:
b. The CPI for 2020 (consider 2019 as the
base year):
Consider the following data on U.S. GDP:
GDP
Year
(Billions of current dollars)
(Billions of 2012 dollars)
2014
17,521.7
16,899.8
2015
18,219.3
17,386.7
2016
18,707.2
17,659.2
2017
19,485.4
18,050.7
2018
20,494.1
18,566.4
Source: "National Economic Accounts."U.S. Bureau of Economic Analysis.
The percentage change in nominal GDP from 2016 to 2017 was
The percentage change in real GDP from 2017 to 2018 was
True or False: The percentage change in real GDP from 2017 to 2018 was higher than the percentage change in real GDP from 2016 to 2017.
O True
O False
Chapter 19 Solutions
Economics (7th Edition) (What's New in Economics)
Ch. 19 - Prob. 19.1.1RQCh. 19 - Prob. 19.1.3RQCh. 19 - Prob. 19.1.4RQCh. 19 - Prob. 19.1.5RQCh. 19 - Prob. 19.1.6PACh. 19 - Prob. 19.1.7PACh. 19 - Prob. 19.1.8PACh. 19 - Prob. 19.1.9PACh. 19 - Prob. 19.1.10PACh. 19 - Prob. 19.1.11PA
Ch. 19 - Prob. 19.1.14PACh. 19 - Prob. 19.2.1RQCh. 19 - Prob. 19.2.2RQCh. 19 - Prob. 19.2.3RQCh. 19 - Prob. 19.2.4PACh. 19 - Prob. 19.2.9PACh. 19 - Prob. 19.2.10PACh. 19 - Prob. 19.3.1RQCh. 19 - Prob. 19.3.2RQCh. 19 - Prob. 19.3.3RQCh. 19 - Prob. 19.3.4PACh. 19 - Prob. 19.3.5PACh. 19 - Prob. 19.3.6PACh. 19 - Prob. 19.3.7PACh. 19 - Prob. 19.3.8PACh. 19 - Prob. 19.3.9PACh. 19 - Prob. 19.3.10PACh. 19 - Prob. 19.4.1RQCh. 19 - Prob. 19.4.3RQCh. 19 - Prob. 19.4.4PACh. 19 - Prob. 19.4.6PACh. 19 - Prob. 19.4.7PACh. 19 - Prob. 19.4.8PACh. 19 - Prob. 19.1RDECh. 19 - Prob. 19.2RDECh. 19 - Prob. 19.6RDECh. 19 - Prob. 19.7RDE
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