Nominal GDP Real GDP in 2011, the value of the GDP deflator is in 2012, the value of the GDP deflator is 2011 $13.495 billion $11,919 billion 2012 $14.241 billion $12.007 billion (Enter your response rounded to the nearest whole number) (Enter your response rounded to the nearest whole number)

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
Problem 4CQQ
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Nominal GDP
Real GDP
In 2011, the value of the GDP deflator is
In 2012, the value of the GDP deflator is
2011
$13.495 billion
$11,919 billion
2012
$14,241 billion
$12,007 billion
(Enter your response rounded to the nearest whole number.)
(Enter your response rounded to the nearest whole number.)
Transcribed Image Text:Nominal GDP Real GDP In 2011, the value of the GDP deflator is In 2012, the value of the GDP deflator is 2011 $13.495 billion $11,919 billion 2012 $14,241 billion $12,007 billion (Enter your response rounded to the nearest whole number.) (Enter your response rounded to the nearest whole number.)
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