Maths Practice Questions ( Real GDP, % Changes, Index Numbers)

If the CPI is 125 in 2008 and Nominal GDP is 800, what is the real GDP (in 2007 prices)? Assuming 2007 is the base year.

If the CPI is 110 in 2007 and Nominal GDP is 600, what is the Real GDP in 2006 prices? (1.d.p). Assuming 2006 is the base year.

If the CPI is 150 in 2010 and Nominal GDP is 260, what is the real GDP in 2009 prices? (1.d.p) Assuming 2009 is the base year.

Real GDP is £450mn in year 1 and rises to £560mn in year 2. Calculate the rate of SR economic growth? (1.d.p)

The price level in year 1 is 98 and increases to 120. What is the % change? (1.d.p)

Using the below table, calculate the % change in Real GDP in 2004 prices (to 2.d.p)? Assuming 2004 is the base year.

	Nominal GDP (£bn)	CPI
2005	260	102
2006	300	107

Using the below table, calculate the % change in real GDP in 2009 prices (to 2.d.p)? Assuming 2009 is the base year.

	Nominal GDP (£bn)	CPI
2010	800	105
2011	900	110

	Nominal GDP (£bn)
2010	80
2011	85
2012	86

Calculate an index number for 2012, assuming 2010 is the base year?

Calculate an index number for 2006, assuming 2005 is the base year?

	Nominal GDP (£bn)
2005	95
2006	190
2007	261

What number is X? (To 1.d.p)

	Index	Nominal GDP
2005	100	X
2006	110	80

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