# macroeconomics

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

1. 0
2. 0
3. 9
1. 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

1. 0
2. 0
posted by economyst

## Similar Questions

1. ### Economic

All of the following refer to the Economy of Ecoland: - GDP in 1990 is \$1000 - Annual inflation is 5% per year from 1991 - 1995. From 1996 - 1999, inflation is 10% per year - Real GDP grows at 2% every year a) Calculate real GDP

asked by Freddy on February 7, 2007
2. ### macroeconomics

should we care more about nominal GDP or real GDP?? Thank you for using the Jiskha Homework Help Forum. Here is a link that discusses that very question: http://economics.about.com/cs/macrohelp/a/nominal_vs_real.htm A GDP based on

asked by jenna on March 13, 2007
3. ### Economics

The task of my assignment was to calculate the Nominal GDP, given the GDP deflator and the Real GDP. This is what I got. GDP Deflator Real GDP Nominal GDP 0.9 600 540 1.0 600 600 1.1 600 660 The second part of the question asks

asked by Freddy on February 8, 2007
4. ### Macro

The great depression was the worst ecomonic disaster in US history in terms of declines in real GDP and increases in the unemployment rate. Use the data in the following table to calculate the percentage decline in real GDP

asked by steve on March 19, 2009
5. ### economics

What are the following variables used for in economics: Nominal GDP, Real GDP, GDP Deflator and CPI?

asked by muselitata on February 21, 2013
6. ### Macroeconomics

If the GDP deflator increased by 3 percent while nominal GDP grew by 5 percent: a) real GDP would grow by 2 percent. b) real GDP would grow by 8 percent. c) real GDP would be unchanged. d) real GDP would fall by 3 percent. My

asked by Kid on September 21, 2018
7. ### macroeconomics

27. The following data show nominal GDP and the appropriate price index for several years. Compute real GDP for each year and indicate whether you have “inflated” or “deflated” nominal GDP in finding real GDP. All GDP are

asked by marc on October 11, 2011
8. ### ECO

suppose US nominal GDP was \$6,250 billion in 2000 and GDP chain price index is 125.0. Real GDP is:

asked by rodney on December 4, 2014
9. ### macroeconomics

23. The next four questions refer to the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Units of Price Year output per unit 1 16 \$2 2 20 3 3

asked by marc on October 11, 2011
10. ### Macroeconomics

How do you calculate the nominal GDP and the real GDP of something? I know the formula for GDP is y=c+I+G+NX but in a problem like an economy produced this many of good#1 and this many of good#2 last year. The price of each good

asked by y912f on March 17, 2011

More Similar Questions