Suppose the nominal GDP in 1960 is equal to 456 thousand dollars and the real GDP in the same year is equal to 1,151 thousand dollars of 2012. What is the 1960 GDP deflator base 100 = 2012? Round your answer to the nearest first decimal.
Suppose the nominal GDP in 1960 is equal to 456 thousand dollars and the real GDP in the same year is equal to 1,151 thousand dollars of 2012. What is the 1960 GDP deflator base 100 = 2012? Round your answer to the nearest first decimal.
Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN:9781305280601
Author:William J. Baumol, Alan S. Blinder
Publisher:William J. Baumol, Alan S. Blinder
Chapter6: How Statisticians Measure Inflation
Section6.A: How Statisticians Measure Inflation
Problem 2TY
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