What is the value of the gdp deflator in 2002

Reference no: EM13203075

Adding to table 11.1, if read GDP in 2002 were $10,048.8 billion and nominal GDP in 2002 were $10,469.6 billion, calculate the percentage change from 2001 to 2002 in nominal GDP, real GDP, and price level. What is the value of the GDP deflator in 2002?

Table 11.1 Nominal Versus Real GDP
VARIABLE 2000 2001 2002
Nominal GDP $9,817.0 b $10,128.0 b $10,469.6 b
% change 3.17
Real GDP $9,817.0 b $9,890.7 b $10,048.8 b
% change .76
GDP deflator (price changes) 100 102.40
% change 2.4

Reference no: EM13203075

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