Econ Project1

Running head : ECONOMIC PROJECT 1NameInstitutionInstructorCourse codeEcon project 1Question 1 answer (1Data collected from BEAyear Nominal gross domestic produce Real gross domestic product2000 10129 .8 11 ,334 .52001 10373 .1 11 ,3802002 10 ,766 .9 11 ,598 .82003 11 ,416 .5 12 ,042 .82004 12 ,144 .9 12410 .32005 12 ,915 .6 12 ,748 .72006 13 ,611 .5 13 ,060 .72007 14 ,337 .9 13 ,391 .12008 14 ,347 .3 13 ,141 .92009 14 ,453 .8 13 ,149 .5 The graphs intersect when the gross domestic product deflator is deoxycytidine monophosphate (2 .GDP deflator (Nominal GDP /Real GDP hundred (Mankiw 20082001 (10373 .1 /11380 cytosine 91 .152002 (10766 .9 /11598 .8 c 92 .832003 (11 ,416 .5 /12 ,042 .2 100 94 .802004 (12144 .9 /12410 .3 100 97 .862005 (12915 .6 /12748 .7 100 101 .312006 (13611 .5 /13060 .7 100 104 .2 2007 (14337 .

9 /13391 .1 100 107 .072008 (14453 .8 /13141 .9 100 110 (3 ) The real GDP is higher than GDP when the old prices are higher than real prices . That is when there is deflation in an providence (4 ) Inflation rate will be (GDP deflator in the current year-GDP deflator in previous(prenominal) year /GDP deflator in previous year 100 (Mankiw 20082002 (92 .83-91 .15 /91 .15 100 1 .82004 (97 .86-94 .80 /94 .80 100 3 .232006 (104 .2-101 .31 /101 .31 100 2...If you command to soak up a full essay, order it on our website: OrderEssay.net

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