Economics 14th Edition by James Gwartney,Richard Stroup, Russell Sobel ,David Macpherson

Exercise 2

Data for nominal GDP and the GDP deflator (2005 = 100) in 2009 and 2010 for six major industrial countries are presented in the accompanying Table.
TABLE
a. Use the data provided to calculate the 2009 and 2010 real GDP of each country measured in 2005 prices. Place the figures in the blanks provided.
b. Use the data for the GDP deflator to calculate the inflation rate of each country. Put your answers in the blanks provided.
c. Which country had the highest growth rate of real GDP? Which had the lowest?
d. Which countries had the highest and the lowest inflation rates?
e. Which one of the countries had the most inflation during this period?