Year Quantity Price Nominal GDP Real GDP 2012$ Real GDP 2015$ 2012 1000.00 $10 $10,000 $10,000...

Year	Quantity	Price	Nominal GDP	Real GDP 2012$	Real GDP 2015$
2012	1000.00	$10	$10,000	$10,000	$16,000
2013	1100.00	$11	$12,100	$11,000	$17,600
2014	1000.00	$13	$13,000	$10,000	$16,000
2015	1200.00	$16	$19,200	$12,000	$19,200

e. Calculate GDP deflator (using 2012$) and inflation rates for 2013, 2014, and 2015.

f. Calculate GDP deflator (using 2015$) and inflation rates for 2013, 2014, and 2015.

Solutions

Expert Solution

(e) GDP deflator and inflation rate for 2013 through 2015 using 2012 $ is calculated (highlighted with light blue color).

(f) GDP deflator and inflation rate for 2013 through 2015 using 2015 $ is calculated (highlighted with light golden color).

The top table showss the calculated numbers, whereas the bottom table presents the formula view of the calculations.

Rahul Sunny answered 1 year ago

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