Question

3. You are provided below Philipines GDP (in thousands of pesos) for 2015 to 2018. a....

3. You are provided below Philipines GDP (in thousands of pesos) for 2015 to 2018.

a. Calculate real GDP and GDP growth:

Year

GDP at Current Price

Deflator

Real GDP

GDP Growth

2015

                   1,260,009

250.6691

2016

                   1,373,027

263.7922

2017

                   1,434,553

262.3692

2018

                   1,478,707

269.5759

Please explain how u did it

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Answer #1

Answer

The following tabe can be filed by using the two formulae below:

Real GDP = GDP at Current Price / GDP Deflator

GDP Growth = [(GDP of Current Year/ GDP of Previous Year) -1] * 100

Year

GDP at Current Price

Deflator

Real GDP

GDP Growth

2015

                   1,260,009

250.6691

 5,056.58 -

2016

                   1,373,027

263.7922

 5,204.96 2.93%

2017

                   1,434,553

262.3692

 5,467.69 5.05%

2018

                   1,478,707

269.5759

 5,485.31 0.32%
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