Nominal GDP for an economy is $10 trillion. Real GDP is $9 trillion. What is the...
Nominal GDP for an economy is $10 trillion. Real GDP is $9 trillion. What is the value of the implicit price deflator?
Homework Answers
Price Deflator = (Nominal gdp / real gdp)* 100
= (10 / 9) * 100 = 11.11
the value of the implicit price deflator is 11.11
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