Question 13.15

8. The accompanying table provides the annual real GDP (in billions of 2009 dollars) and nominal GDP (in billions of dollars) for the United States.

2009 2010 2011 2012 2013
Real GDP (billions of 2009 dollars) 14,417.9 14,779.4 15,052.4 15,470.7 15,761.3
Nominal GDP (billions of dollars) 14,417.9 14,958.3 15,533.8 16,244.6 16,799.7
  1. Calculate the GDP deflator for each year.

  2. Use the GDP deflator to calculate the inflation rate for all years except 2009.