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The base year is 2012. Real GDP in 2012 was? $15 trillion. The GDP price index in 2015 was? 105, and real GDP in 2015 was? $16 trillion. ?? ?? Calculate nominal GDP in 2012 and in 2015 and the percentage increase in nominal GDP from 2012 to 2015.

Nominal GDP in 2012 is ?$ _ trillion. And percentage increase in production 2012-2015 is _.

Respuesta :

Answer:

nominal GDP = 15 trillion

nominal GDP = 16.8 trillion

percentage change in nominal GDP = 12%

percentage change in real GDP = 6.67 %

Explanation:

given data

Real GDP in 2012 = $15 trillion

GDP price index 2015 = 105

real GDP in 2015 = $16 trillion

solution

we get here GDP in 2012 that is express as

GDP deflator = [tex]\frac{nominal\ GDP}{real\ GDP}[/tex] × 100  ................1

100 = [tex]\frac{nominal\ GDP}{15}[/tex] × 100

nominal GDP = 15 trillion

and

nominal GDP in 2015 that is

105 = [tex]\frac{nominal\ GDP}{16}[/tex] × 100

nominal GDP = 16.8 trillion

and

now we get percentage increase in nominal GDP is

nominal GDP = [tex]\frac{nominal\ GDP(current) -Nominal\ GDP(initial)}{Nominal\ GDp(initial)}[/tex] × 100     .....................2

nominal GDP = [tex]\frac{16.8-15}{15}[/tex] × 100

percentage change in nominal GDP = 12%

and

percentage change in real GDP is

percentage change in real GDP = [tex]\frac{real\ GDP(current) -real\ GDP(initial)}{real\ GDp(initial)}[/tex] × 100   .....................3

percentage change in real GDP = [tex]\frac{16-15}{15}[/tex] × 100

percentage change in real GDP = 6.67 %

marvineetesh3

The nominal GDP in 2012 is $15 trillion, the nominal GDP in 2015 is $16.8 trillion, and the percentage change in nominal GDP in 2012 is 12%, and the percentage change in real GDP in 2015 is 6.67 %.

What is the real GDP?

GDP means the Gross Domestic Product, It is a monetary measurement of the market value of every final goods and service created in a limited time period by countries.

According to the above situation,

Real GDP in 2012 = $15 trillion

GDP price index 2015 = 105

Real GDP in 2015 = $16 trillion

Computation of the GDP and the rate of percentage:

The GDP in the year 2012 are:

GDP Deflatlator:

[tex]=\frac{\text{Nominal GDP}}{\text{Real GDP}} \times 100\\\\100=\frac{\text{Nominal GDP}}{15}\times 100\\\\{\text{Nominal GDP}} = 15 \text{trillion}[/tex]                

and,

The GDP in the year 2015 are:

[tex]=\frac{\text{Nominal GDP}}{\text{Real GDP}} \times 100\\\\105=\frac{\text{Nominal GDP}}{16}\times 100\\\\{\text{Nominal GDP}} = 16.8 \text{trillion}[/tex]

Then,

Now, the percentage increase in nominal GDP in 2012 is:

[tex]\text{Nominal GDP} =\dfrac{\text{Current Nominal GDP- Initial Nominal GDP}}{\text{Initial Nominal GDP}}\times100\\\\\\\text{Nominal GDP}= \dfrac{16.8-15}{15}\times100\\\\[/tex]      

                   

The percentage change in nominal GDP in 2012 is 12%.                  

The percentage increase in nominal GDP in 2015 is:

[tex]\text{Nominal GDP} =\dfrac{\text{Current Nominal GDP- Initial Nominal GDP}}{\text{Initial Nominal GDP}}\times100\\\\\\\text{Nominal GDP}= \dfrac{16-15}{15}\times100\\\\[/tex]

Percentage change in nominal GDP in 2015 is 6.67%

Therefore, the percentage change in nominal GDP in 2015 is 6.67%.

Learn more about the real GDP, refer to:

https://brainly.com/question/14034620

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