Compute real gdp. indicate in each compute whether you are, Ask an Expert

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computing real GDP and price index.

The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each compute whether you are inflating or deflating the nominal GDP data.

Product Price	Quality Demanded
$5	1
4	2
3	3
2	4

Year Nominal GDP Billions, Price Index (1996 = 100) Real GDP, Billions
1960	$527.40	22.19	$____
1968	911.5	26.29	$____
1978	2295.9	48.22	$____
1988	4742.5	80.22	$____
1998	8790.2	103.22	$____

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M920808

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