Consider the table below. CPI Year CPI Real GDP Nominal GDP GDP Deflator GDP Inflatio Inflation 2005 93.27 7779.37 7228.54 92.92 2006 100.00 7.21 11020.08 11020.08 100.00 2007 a 8.30 13965.61 14762.06 105.70 5.70

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Consider the table below.
CPI
Year
CPI
Real GDP
Nominal GDP GDP Deflator GDP Inflation
Inflation
2005
93.27
7779.37
7228.54
92.92
2006
100.00
7.21
11020.08
11020.08
100.00
2007
a
8.30
13965.61
14762.06
105.70
5.70
2008
119.83
b
d
17459.86
114.92
8.72
Based on the values of the table, what is the correct value for b ? (Please round your answer to
include 2 decimal places)
Transcribed Image Text:Consider the table below. CPI Year CPI Real GDP Nominal GDP GDP Deflator GDP Inflation Inflation 2005 93.27 7779.37 7228.54 92.92 2006 100.00 7.21 11020.08 11020.08 100.00 2007 a 8.30 13965.61 14762.06 105.70 5.70 2008 119.83 b d 17459.86 114.92 8.72 Based on the values of the table, what is the correct value for b ? (Please round your answer to include 2 decimal places)
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