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Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:

Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
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$2,460.20
 

$7,512.20
 

$8,563.40
 

$12,110.80
Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:
Transcribed Image Text:Refer to the following table of Annual GDP in the US. Year Nominal GDP Price Index Real GDP $1,878 Billion $4,590 Billion $6,174 Billion $13,856 Billion $18,625 Billion 1976 37.9 $4,955.1 $ ??????? $10,104.7 $14,314.0 $16,719.0 1986 53.6 1991 61.1 2006 2015 96.8 111.4 Using 2008 as the Base Year with the Price Index that year at 100, the Real GDP for 1986 would be calculated to be:
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