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Economics 12th Edition by William Baumol, Alan S Blinder
Edition 12ISBN: 978-0538453691Economics 12th Edition by William Baumol, Alan S Blinder
Edition 12ISBN: 978-0538453691 Exercise 5
Below you will find nominal GDP and the GDP deflator (based on 2005 = 100) for the years 1989, 1999, and 2009.
a. Compute real GDP for each year.
b. Compute the percentage change in nominal and real GDP from 1989 to 1999, and from 1999 to 2009.
c. Compute the percentage change in the GDP deflator over these two periods.
a. Compute real GDP for each year.
b. Compute the percentage change in nominal and real GDP from 1989 to 1999, and from 1999 to 2009.
c. Compute the percentage change in the GDP deflator over these two periods.
Explanation
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Real GDP for 1989
Substitute the respec...
Economics 12th Edition by William Baumol, Alan S Blinder
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