In January 26th 2018, the Bureau of Economic Analysis (BEA) issued the 2017 fourth quarter report.
This report is available on the BEA websitehttps://www.bea.gov/newsreleases/national/gdp/2018/pdf/gdp4q17_adv.pdf
What is thegrowth rate of the real GDP in 2017, and 2016?Remember that growth rate is the percentage change.(2 points)
From table 3,what isthe nominal GDP in 2017?Calculate the growth rate in the nominal GDP in 2017 if you knowthat thenominal GDP of 2016 was18,569.1. Show your work(3 points)
What is the percentage increase of the price index in 2017, and 2016?(table 4) (2 points)
What was the base year the BEA used? What is the 2017 GDPinbase year (2009) dollars (real GDP)?(Table 3) (2 points)
From number 2 and 4 calculate the GDP deflatorfor 2017and say what it means.(4 points)
Table 6 displays the price index of the GDP in 2015, 2016, and 2017.Calculate the inflation rate in 2016 and 2017. Show your work.(4 points)
What is the growth rate of the real gross private domestic investment, export, import, government expenditures?(4 points)
The growth rate of nominal GDP? growth rate in real GDP + Growth rate in the price level.Do your findings support this formula? Explain.(hint: look at number1,2, and 6) (3 points)
