Need economics help with question. 13 and the GDP index

Anonymous
timer Asked: Dec 18th, 2015
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Tutor Answer

ashu9012
School: Boston College

Thank you for the opportunity to help you with your question!

in the base year nominal GDP is always equal to real GDP

so Nominal GDP in 2007 = $13.0 trillion 

real GDP of 2010  = Q2010 * P2007

13.1/106 = =.1235

NGDP 2010 = .1235*108 = 13.34 trillion

                      

Please let me know if you need any clarification. I'm always happy to answer your questions.

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Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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