Question

Year	Nominal GDP (billions of dollars)	GDP Deflator (2005 = 100)	Real GDP ($bn)
1960	543.3	19.0
1965	743.7	20.3
1970	1075.9	24.8
1975	1688.9	34.1
1980	2862.5	48.3
1985	4346.7	62.3
1990	5979.6	72.7
1995	7664.0	81.7
2000	10289.7	89.0

Answer 1

Answer:

Year	Nominal GDP (billions of dollars)	GDP Deflator (2005 = 100)	Real GDP ($bn)
1960	543.3	19.0	543.3 / 19.0 = 28.59
1965	743.7	20.3	743.7 / 20.3 = 36.63
1970	1075.9	24.8	1075.9 / 24.8 = 43.38
1975	1688.9	34.1	1688.9 / 34.1 = 49.53
1980	2862.5	48.3	2862.5 / 48.3 = 59.26
1985	4346.7	62.3	4346.7 / 62.3 = 69.77
1990	5979.6	72.7	5979.6 / 72.7 = 82.25
1995	7664.0	81.7	7664.0 / 81.7 = 93.81
2000	10289.7	89.0	10289.7 / 89.0 = 115.61

Formula used in calculation: