Real-Time Data Analysis Exercise The following table contains nominal GDP and the GDP deflator from FRED* for the second quarter of 2019 and 2018.

Question:

Answer:

Answer. Real GDP in 2019:Q2 is $19022.2 bil. and in 2018:Q2 is $18598.3 bil

Explanation

we know that

GDP Deflator = (Nominal GDP / Real GDP)*100

Using the above information the following table is prepared

PeriodGDP DeflatorNominal GDPReal GDP
2019: Q2112.1821339.12119022.2
2018:Q2110.2820510.17718598.3

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