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July 25, 2014

July 25, 2014

Posted by **Ella** on Tuesday, September 23, 2008 at 5:08pm.

Nominal GDP: 9,817

Real GDP: ___________

GDP Deflator: 1

Inflation 2.2

Real GDP Per capita: _________

Population 283.7

Year – 2001

Nominal GDP: ________

Real GDP: 9,891

GDP Deflator: _________

Inflation 2.4

Real GDP Per capita: _________

Population 286.6

Year 2003

Nominal GDP: _________

Real GDP: __________

GDP Deflator: 1.04

Inflation: __________

Real GDP Per capita: 37,450

Population: 289.5

Calculate the missing Data

Ok soo.. i think i figured out the first row, For the first one I got 9,817 for Real GDP and 34.60 for real GDP per capita but im stuck with the others

- macroeconomics -
**economyst**, Wednesday, September 24, 2008 at 1:16pmok, start with the given Real GDP in 2001. Deflate this to 2000 dollars using the stated inflation rate of 2.4%

Real 01 GDP in 2000 dollars=9891/1.024=9659.18

Next calculate real growth in GDP between 2000 and 2001. Growth GDP = (real GDP01)/(real GDP00) = 9659.18/9817.00 = 0.9839

Finally, Nominal GDP in 2001 is (Nominal GDP00)*inflation*(real growth in GDP) = 9817 * 1.024 * 0.9839 =9890.76

GDP deflator is (nominal GDP)/(real GDP) = 9890.76/9891. = 1.0

Real GDP per cap is real GDP / pop = 9891/286.6 = 34.5

Ok, now you take it from here

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