Homework Answers
Answer is D.
Nominal GDP = Real GDP × GDP deflator
Real GDP = Nominal GDP × / GDP deflator.
- So when nominal GDP was 100 trillion and GDP deflator was 2 then
=
Real GDP = 100/2 = 50
-When nominal GDP was 120 and deflator was 2.5 then -
Real GDP = 120/2.2 = 54.54
So percentage change in real GDP = 4.5 ×100/50 = 9%.
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QUESTION 27 If nominal GDP in 2014 is $20,000 billion while real GDP is $16,500 billion, then the GDP deflator in 2014 is: O A 125 OB 1212 oC 150 OD. 110 OE 80 We were unable to transcribe this image
Need help with this, please show work
4. If nominal GDP and real GDP both rise by 10 percent, then the GDP deflator O O falls by 10 percent. also rises by 10 percent. remains unchanged. rises by about 20 percent. O
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