2- For the table below: GDP deflator = 108.9 a) Calculate the amount of Real Exp

Question

2- For the table below: GDP deflator = 108.9

a) Calculate the amount of Real Exports X.

b) Calculate the Real GDP (Y = C + I + G + NX).

c) Calculate the amount of investment I

d) Fill out the rest of the table for nominal values

Note that NX = net exports= exports - imports

Consumption

Investment

Government

spending

Exports

Imports

Net Exports

Question 2

C

I

G

X

M

NX

GDP deflator

Blank

Nominal values

          4,150.00

     2,300.00

              2,250.00

     3,500.00

    (700.00)

        95.00

Blank

Nominal

Real Values

Real GDP

????

Consumption

Investment

Government

spending

Exports

Imports

Net Exports

Question 2

C

I

G

X

M

NX

GDP deflator

Blank

Nominal values

          4,150.00

     2,300.00

              2,250.00

     3,500.00

????

    (700.00)

        95.00

Blank

Nominal

????

Real Values

Real GDP

????

Explanation / Answer

Consumption Consumption Investment Government Spending Exports Imports Net Exports Question 2 C I G X M NX GDP deflator Nominal values 4150 2300 2250 3500 2800 700 95 Nominal 9400 Real Values 3942.5 2185 2137.5 3325 2660 Real GDP = 8930 a) Real exports X = (GDP deflator/100)*Nominal Exports Real Exports = 3325 b) Real GDP = (GDP deflator/100)*Nominal GDP

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