The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2016 and 2018. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. Fill in the columns for the GDP deflator, for the percent increase in the price level, and economic growth rate. (Note: Rounding to three decimal points for GDP deflator and to the nearest tenth for price increase and economic growth rate) Quarter 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 Nominal GDP 18.325 2 18,538.0 18,729.1 18,905.5 19,057.7 19,250.6 19,500.6 19.754.1 20,098.8 percent Increase in Price Level? economic Growth rate? Real GDP 16,571.6 16.663.5 percent Increase in Price Level? economic Growth rate? 16,778.1 16.851.4 16.903.2 17.031.1 17,163.9 17,286.5 17,457.6 What is the value of the following indicators in the 2017 Q2 for: GDP deflator? GDP Deflator What is the value of the following indicators in the year 2018 Q2 for: GDP deflator? Percent Increase in Price Level (%) (rounding to three decimal points) (rounding to three decimal points) Economic Growth rate (%)

The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2016 and 2018. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. Fill in the columns for the GDP deflator, for the percent increase in the price level, and economic growth rate. (Note: Rounding to three decimal points for GDP deflator and to the nearest tenth for price increase and economic growth rate) Quarter 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 Nominal GDP 18.325 2 18,538.0 18,729.1 18,905.5 19,057.7 19,250.6 19,500.6 19.754.1 20,098.8 percent Increase in Price Level? economic Growth rate? Real GDP 16,571.6 16.663.5 percent Increase in Price Level? economic Growth rate? 16,778.1 16.851.4 16.903.2 17.031.1 17,163.9 17,286.5 17,457.6 What is the value of the following indicators in the 2017 Q2 for: GDP deflator? GDP Deflator What is the value of the following indicators in the year 2018 Q2 for: GDP deflator? Percent Increase in Price Level (%) (rounding to three decimal points) (rounding to three decimal points) Economic Growth rate (%)

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter7: Taking The Nation's Economic Pulse

Section: Chapter Questions

Problem 14CQ

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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 2016 and 2018. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. Fill in the columns for the GDP deflator, for the percent increase in the price level, and economic growth rate. (Note: Rounding to three decimal points for GDP deflator and to the nearest tenth for price increase and economic growth rate) Quarter 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 Nominal GDP 18,325.2 18,538.0 18,729.1 18,905.5 19,057.7 19,250.6 19,500.6 19,754.1 20,098.8 Real GDP 16,571.6 16,663.5 16,778.1 16,851.4 16,903.2 17,031.1 17,163.9 17,286.5 17.457.6 GDP Deflator What is the value of the following indicators in the 2017 Q2 for: GDP deflator? percent Increase in Price Level? economic Growth rate? Percent Increase in Price Level (%) (rounding to three decimal points) What is the value of the following…
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