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

Year - 2000

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 1:16pm
ok, 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

## Answer this Question

## Related Questions

- Economics - The task of my assignment was to calculate the Nominal GDP, given ...
- Economic - All of the following refer to the Economy of Ecoland: - GDP in 1990 ...
- Macro - The great depression was the worst ecomonic disaster in US history in ...
- macroeconomics - 27. The following data show nominal GDP and the appropriate ...
- macroeconomics - 23. The next four questions refer to the following price and ...
- Macroeconomics - How do you calculate the nominal GDP and the real GDP of ...
- economics - What are the following variables used for in economics: Nominal GDP...
- ECO - suppose US nominal GDP was $6,250 billion in 2000 and GDP chain price ...
- macroeconomics - GDP rises from $4 trillion in 2006, the base year, to $5 ...
- Macroeconomics - Calculating the Rate of Growth of Per Capita Real GDP The ...

More Related Questions