1. Economics
2. Principles of Mathematical Economics
3. 14621

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Gross Domestic Product (example problem)

Nominal Real GDP Per Capita
GDP GDP Deflator Inflation Real GDP Population
Year ($Billions) ($Billions) (1982 = 100) Rate (1982 $) (Millions)

1980 2,952.8 _____ 90.01 9.5 % _____ 239.2

1981 _____ 3,513.0 _____ 9.6 % _____ 253.1

Required:

Calculate Nominal GDP, Real GDP, the GDP Deflator, and Per Capita GDP where indicated.