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(solution) The GDP price index in the United States in 2003was about 94,and


The GDP price index in the United States in 2003was about 94,and real GDP in 2003was $11.6trillion (2005 dollars). The GDP price index in the United States in 2007was about 106,and real GDP in 2007was $13.0trillion (2005 dollars).Calculate nominal GDP in 2003and in 2007and the percentage increase in nominal GDP between 2003and 2007.>>> Answer below to 1 decimal place.

Nominal GDP in 2003 is ________

Nominal GDP in 2007 is ________.

The percentage increase in the nominal GDP between 2003and 2007 is _______________.

 


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