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  3. Consider the following data: Nominal GDP for 1994 was ＄6550 billion, as compared

Consider the following data: Nominal GDP for 1994 was ＄6550 billion, as compared

游客2025-06-21  22
问题 Consider the following data: Nominal GDP for 1994 was ＄6550 billion, as compared to ＄6250 billion for 1993. The GDP deflator for 1994 was 102.5, as compared to 100.0 for 1993.
(a)Calculate the rates of growth of nominal GDP and real GDP for 1994.
(b)What was the inflation rate (as measured by the GDP deflator) for 1994?
选项
答案 (a)Nominal GDP1993=＄6250 billion; and nominal GDP1994=＄6550 billion;
The growth rate of nominal GDP for 1994 =(＄6550b-＄6250b)/＄6250b×100%
=4.8%
Real GDP1993=(＄6250b/100.0)×100=＄6250b
Real GDP1994=(＄6550b/102.5)×100≈＄6390.2b
The growth rate of real GDP for 1994 =(＄6390.2b-＄6250b)/＄6250b×100% =2.2%
(b)The inflation rate for 1994=(102.5-100.0)/100.0×100%=2.5%
解析
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