Solved by verified expert:Each item should be answered seperately, and answers must be typed by word or excel!!!look at the table attached and do the following: 1) Nominal GDP per year2) Real GDP per year (using 2011 as abase year)3) GDP deflator4) Percent change in real GDP growth for 2012 and 20135) Percent change in inflation growth for 2012 and 2013 (using GDP deflator)6) Create a CPI index using 2011 as base year- Percent change in inflation for 2012 and 2013 (using the CPI)
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Given the information above please find:
Nominal GDP per year
Real GDP per year (using 2011 as abase year)
Percent change in real GDP growth for 2012 and 2013
Percent change in inflation growth for 2012 and 2013 (using GDP deflator)
Create a CPI index using 2011 as base year
Percent change in inflation for 2012 and 2013 (using the CPI)
In order to get the answers correctly check the textbook Table 2 Chapter 15 : Measuring a
Nations’s Income how to calculate the GDP data; check Table 1 on Chapter 16: Measuring
the Cost of Living. Note that textbook references for Essential of Economics; if you have a
different textbook go by chapter title. You can also use the power points uploaded in the
correct module to check these tables. Most important know the difference between GDP
deflator and CPI.
Each item has to be answered separately. You must upload the answers- answers must
be typed you can use word or excel.
Handwriting answers will result in a deduction 10 points.
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