given that in 1990, nominal GDP = 2063 and real GDP(base 1990) = 2063. in 1991, nominal GDP = 2113 and real GDP = 2088. for both years calculate:
a. nominal GDP growth
b. real GDP growth
c. GDP deflator
d. rate of inflation
1
Expert's answer
2014-11-05T12:07:48-0500
a. nominal GDP growth = nominal GDP (1991) / nominal GDP (1990) = 2113 / 2063 = 1.0242 b. real GDP growth = real GDP (1991) / real GDP (1990) = 2088 / 2063 = 1.0121 c. GDP deflator (1990) = nominal GDP (1990)/real GDP(1990) = 2063/2063 = 1 GDP deflator (1991) = nominal GDP (1991)/real GDP (1991) = 2113/2088=1.01197 d. rate of inflation (1990) = nominal GDP (1990)/ real GDP(1990) = 2063/2063 = 1 rate of inflation (1991) = nominal GDP (1991)/ real GDP(19910 = 2113/2088 = 1.0119
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Comments
Leave a comment