problem: Obtain data about 2011 gross domestic product at http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1 to complete the table below.
• When completing this table, recall that Y = C + I + G + NX.
• Use the most recent consumer price index reported by the Bureau of Labor Statistics.
problem: prepare a 500-word response to the following:
• describe the difference between nominal and real GDP and why real GDP is necessary to compare prior years’ data.