Suppose nominal GDP is estimated to be $5 trillion, and the GDP deflator is 150. Given...

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Question

Suppose nominal GDP is estimated to be $5 trillion, and the GDP deflator is 150. Given...

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

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Answer 1

Answer #1

Ans: 3.33 trillion

Explanation:

Real GDP = (Nominal GDP / GDP deflator) * 100

= ( 5 / 150) * 100

= $3.33 trillion

Thus, option [c] is the correct answer

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Answer 2

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Suppose nominal GDP is estimated to be $5 trillion, and the GDP deflator is 150. Given...

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Add Answer to: Suppose nominal GDP is estimated to be $5 trillion, and the GDP deflator is 150. Given...

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Suppose nominal GDP is estimated to be $5 trillion, and the GDP deflator is 150. Given...