Question

Take the following data table and calculate the Real Value when the Base Value is set...

Take the following data table and calculate the Real Value when the Base Value is set at 2009. Please show your work and use 4 digit decimal precision when Re-Indexing CPI.

Year Nominal GDP CPI-Core Real GDP
2008 13,999 217.5
2009 14,400 219.5
2010 15,000 221.0
2011 15,500 225.5
2012 16,000 229.0
2013 17,000 235.5

on when Re-Indexing CPI.

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Homework Answers

Answer #1

First, re-calculate CPI as per 2009 base year. Then find out Real GDP as per base 2009.

Note:

CPI 2009 base = (CPI-Core for current year / CPI-Core for 2009) x 100

Real GDP 2009 base = (Nominal GDP / CPI 2009 base) x 100

--

Year Nominal GDP CPI-Core CPI 2009 base Real GDP 2009 base
2008 13,999 217.5 99.0888 14127.7319
2009 14,400 219.5 100 14,400
2010 15,000 221.0 100.6834 14898.1859
2011 15,500 225.5 102.7335 15087.5810
2012 16,000 229.0 104.3280 15336.2472
2013 17,000 235.5 107.2893 15845.0097
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