Question

In Macroland, the GDP deflator for 2014 is 105 with 2013 as the base year. Real GDP in 2014 equalled $210 billion. Therefore, nominal GDP in 2014 equalledwhile nominal G DP in 2013 equalled
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer to blank 1: $220.5 billion

Answer to blank 2: $200 billion

Explanation:

Nominal GDP in 2014 = (105 * 210) / 100 = $220.5 billion

Nominal gdG in 2013 = (210 / 105) * 100 = $200 billion

Add a comment
Know the answer?
Add Answer to:
In Macroland, the GDP deflator for 2014 is 105 with 2013 as the base year. Real...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT