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Appendix: Historical Data on Nominal and Real GDP<br />

The table below shows U.S. nominal GDP and U.S. Real GDP for the years from 1974 through<br />

2013. Notice that nominal GDP increased by almost 11-fold over this forty year period. Real GDP<br />

increased by almost 3-fold. Information is from the Bureau of Economic Analysis.<br />

Year Nominal GDP Real GDP (2009 Base)<br />

1974 1,549 billion 5,396 billion<br />

1975 1,689 billion 5,385 billion<br />

1976 1,878 billion 5,675 billion<br />

1977 2,086 billion 5,937 billion<br />

1978 2,357 billion 6,267 billion<br />

1979 2,632 billion 6,466 billion<br />

1980 2,863 billion 6,450 billion<br />

1981 3,211 billion 6,618 billion<br />

1982 3,345 billion 6,491 billion<br />

1983 3,638 billion 6,792 billion<br />

1984 4,041 billion 7,285 billion<br />

1985 4,347 billion 7,594 billion<br />

1986 4,590 billion 7,861 billion<br />

1987 4,870 billion 8,133 billion<br />

1988 5,253 billion 8,475 billion<br />

1989 5,658 billion 8,786 billion<br />

1990 5,980 billion 8,955 billion<br />

1991 6,174 billion 8,948 billion<br />

1992 6,539 billion 9,267 billion<br />

1993 6,879 billion 9,521 billion<br />

1994 7,309 billion 9,905 billion<br />

1995 7,664 billion 10,175 billion<br />

1996 8,100 billion 10,561 billion<br />

1997 8,609 billion 11,035 billion<br />

1998 9,089 billion 11,526 billion<br />

1999 9,661 billion 12,066 billion<br />

2000 10,285 billion 12,560 billion<br />

2001 10,622 billion 12,682 billion<br />

2002 10,978 billion 12,909 billion<br />

2003 11,511 billion 13,271 billion<br />

2004 12,275 billion 13,774 billion<br />

2005 13,094 billion 14,234 billion<br />

2006 13,856 billion 14,614 billion<br />

2007 14,478 billion 14,874 billion<br />

2008 14,719 billion 14,830 billion<br />

2009 14,419 billion 14,419 billion<br />

2010 14,964 billion 14,784 billion<br />

2011 15,518 billion 15,021 billion<br />

2012 16,163 billion 15,369 billion<br />

2013 16,768 billion 15,710 billion<br />

Appendix: Circular Flow Diagram<br />

Total output produced in the economy can be measured by adding up the Total Expenditures on<br />

final goods and services, or by adding up the payments to the resource owners who provided the<br />

resources to produce the final goods and services. A simple circular flow diagram illustrates the<br />

flow of goods and services through product markets and the flow of resources through resource<br />

markets.<br />

FOR REVIEW ONLY - NOT FOR DISTRIBUTION<br />

Measuring Total Output: GDP 5 - 8

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