Discussion:
Collect annual data for nominal Gross Domestic Product and real Gross Domestic Product for the years 1950 through 2014. Using Excel, put nominal GDP in the first column of your spreadsheet and real GDP in the second column of your spreadsheet.
Then, graph both series of data on the same graph using a line graph. Place the graph to the right of the data columns in your spreadsheet.
Can you tell from looking at the data if the U.S. has had positive inflation rates for most of the years in the data series?
How can you determine the base year from looking at the graph?
Submit your spreadsheet, titled with your last name, to the Dropbox on the course website.