Consider the complying with data top top U.S. GDP: a. What to be the expansion rate of in the name GDP between 1996 and also 1997? (Note: The growth rate is the percentage adjust from one duration to the next.)b. What to be the expansion rate that the GDP deflatorbetween 1996 and also 1997?c. What was real GDP in 1996 measured in 1992prices?d. What was genuine GDP in 1997 measure up in 1992prices?e. What to be the growth rate of actual GDP between 1996 and also 1997?f. To be the development rate of in the name GDP higher orlower 보다 the growth rate of actual GDP? Explain.


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Book2.xlsx
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The data given in the attachment is taken into consideration for answering the question. Part a) growth rate of in the name GDP between 1996 and 1997 = percentage change of in the name of GDP indigenous 1996 to 1997 expansion rate of in the name of GDP in between 1996 and 1997 = ((nominal GDP_1997 - in the name of GDP_1996)*100over (nominal GDP_1996) ) expansion rate of in the name of GDP between 1996 and 1997 = ((8111 billions - 7662 billions)*100over (7662 billions) ) expansion rate of in the name GDP between 1996 and also 1997 =5.86% part b) growth rate the GDP deflator in between 1996 and also 1997 = percentage readjust of GDP deflatorfrom 1996 come 1997 growth rate that GDP deflator in between 1996 and also 1997 = ((Deflator_1997 - Deflator_1996)*100over (Deflator_1996) ) growth rate the GDP deflator in between 1996 and 1997 = ((112 - 110)*100over (110) ) expansion rate the GDP deflator in between 1996 and also 1997 =1.82 % part c) together the base year was 1992, therefore GDP deflator value in 1992 = 100 real GDP in 1996 measure up in 1992 prices = ((Nominal GDP_1996*Deflator_1992) over Deflator_1996) real GDP in 1996 measure up in 1992 prices = ((7662 billions*100) over 110) actual GDP in 1996 measured in 1992 price = $6965.46billions part d) together the base year was 1992, therefore GDP deflator worth in 1992 = 100 actual GDP in 1997measured in 1992 prices = ((Nominal...


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6*Deflator_1992) over Deflator_1996) real GDP in 1997measured in 1992 price = ((8111billions*100) over 112) genuine GDP in 1997measured in 1992 price = $7241.96billions component e) development rate that realGDP in between 1996 and also 1997 = percentage readjust of actual GDP indigenous 1996 come 1997 growth rate that realGDP in between 1996 and 1997 = ((real GDP_1997 - real GDP_1996)*100over (real GDP_1996) ) expansion rate the realGDP between 1996 and 1997= ((7241.96 billions - 6965.46 billions)*100over (6965.46 billions) ) expansion rate that realGDP between 1996 and 1997 = 3.97% part f) The expansion rate of nominal GDP (5.86%) was greater than the growth rate of in the name of GDP (3.97%). This might be due to the fact that some that teh rise in nominal GDP can be on accountof price rise/inflation. So, the yes, really productivity increase is less than the in the name GDP.