Real GDP = Nominal GDP/ GDP deflator.
Therefore, real GDP in 2015 = $15 trillion / 1.25 = $12 trillion.
If the GDP deflator in 2009 equals 1.25 and nominal GDP in 2009 equals $15 trillion,...
Suppose the European Union has a Nominal GDP of 20 trillion Euros, and their GDP deflator is 125. What is the European Union’s Real GDP? 25 trillion Euros 0.16 trillion Euros 16 trillion Euros With a Real GDP of $15 trillion in 2015 and of $18 trillion in 2016, the real growth would be ________. 2% 16.7% 20%
In 2010, nominal GDP was $14.6 trillion and the GDP deflator was 110.6. What was real GDP for that year? A) $16.1 trillion B) $14.3 trillion C) $13.2 trillion D) $12.1 trillion
Suppose nominal GDP is estimated to be $5 trillion, and the GDP deflator is 150. Given these numbers what is real GDP? Select one: a. $2.75 trillion b. $ 4.0 trillion c. $3.33 trillion d. $7.5 trillion
Nominal GDP for an economy is $10 trillion. Real GDP is $9 trillion. What is the value of the implicit price deflator?
(6) If nominal GDP is $15 trillion at an annual rate and constant dollar GDP is 12 trillion annualized, then the relevant price deflator must be at which level? (a) 80.0; (b) 125.0; (c) rising at a rapid pace; (d) $3 trillion.
Real vs. Nominal GDP Year Real GDP Nominal GDP GDP Deflator 1990 $1000 billion $950 billion 1995 $1200 billion $1200 billion 1998 $1500 billion 115 2000 $1750 billion 125 What is the base year? What is the value of the GDP Deflator in the base year? What is the value of the GDP Deflator in 1990? What is the value of Real GDP in 1998? What is the value of Nominal GDP in 2000?
Question 1 Given the Equation of Exchange: Suppose that real GDP equals $10 trillion, nominal GDP equals $20 trillion, and the aggregate price level equals 2.If the velocity of money is 2,the money supply is: a. $20 trillion b. $10 trillion c. $30 trillion d. $25 trillion Question 2 Social insurance programs are: a. government programs intended to protect families against economic hardships. b. private insurance policies to protect families from hardships caused by government actions. c. private insurance policies...
a) What was the value of the GDP deflator in 1999, in 2000 (b) What was the inflation rate in 2000 using the GDP deflator! 9. Tropical Republic produces only bananas and coconuts. The base year is 2010, an tables give the quantities produced and the prices. Quantities Bananas Coconuts 2010 2011 70 bunches SO bunches 40 bunches 60 bunches Prices Bananas Coconuts 2010 $3 a bunch $8 a bunch 2011 $5 a bunch $9 a bunch (a) (4 points)...
GDP deflator Year Nominal GDP Population Size ($ billions (millions 2008 3,275 310 2009 3,400 312 2010 3,350 314 Table L: Economic Data for a Hypothetical Economy 104 107 109 119. Consider the economic data provided for a hypothetical economy in Table L above. What is the real GDP growth rate from 2008-09 for the economy depicted in Table L? (If necessary, at each stage of calculation, round to the nearest 1/100th (0.00).) A. -3.39% B. -3.28% C. -1.47% D....
The GDP deflator is the ratio of real GDP to nominal GDP multiplied by 100. difference between real GDP and nominal GDP multiplied by 100. difference between nominal GDP and real GDP multiplied by 100. ratio of nominal GDP to real GDP multiplied by 100.