The following table contains nominal and real GDP data,
Question and Solution
The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysi
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The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2008 and 2009. The data is listed per quarter, and the real GDP data was calculated using 2005 as the base year. Fill in the columns for the GDP deflator and for the percent increase in price level. QUARTER NOMINAL GDP REAL GDP GDP DEFLATOR PERCENT INCREASE IN PRICE LEVEL 2008q1 14,373.9 13,366.9 2008q2 14,497.8 13,415.3 2008q3 14,546.7 13,324.6 2008q4 14,347.3 13,141.9 2009q1 14,178.0 12,925.4 2009q2 14,151.2 12,901.5 2009q3 14,242.1 12,973.0 2009q4 14,453.8 13,149.5
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