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Calculate the real GDP in each year, assuming

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Subject: Economics
Due on: 08/24/2017
Posted On: 08/24/2017 10:12 AM

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Calculate the Real GDP in Each Year

Calculate the real GDP in each year, assuming that the nominal GDP was $559 billion in the base year, $577 billion in year one, and $605 billion in year two; and that the price index rose from 100 to 104.5 in the first year, and up to 108.3 in the second year. If the price index 20 years before the base year was 41.2, and the nominal GDP for 20 years before the base year was 191.0, what was the real GDP for that year? Show your work in all cases.

Tags auming year real calculate year base real billion years price calculate index nominal 0 work cases auming second rose 1 2

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Calculate the real GDP in each year, assuming

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