If the nominal GDP and real GDP in 2012 are $12 trillion and $10 trillion respectively, then the GDP deflator is equal to ? 100 ? 120 ? 125 ? 150
Added by M-Nica A.
Close
Step 1
Step 1: The GDP deflator is calculated as the ratio of nominal GDP to real GDP, multiplied by 100. Show more…
Show all steps
Your feedback will help us improve your experience
Azat Nurmukhametov and 71 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
If nominal GDP is $10 trillion and real GDP is $8 trillion, then the GDP deflator is Group of answer choices 125, and this indicates that the price level has increased by 125 percent since the base year. 125, and this indicates that the price level has increased by 25 percent since the base year. 80, and this indicates that the price level has decreased by 20 percent since the base year. 80, and this indicates that the price level has increased by 80 percent since the base year.
Azat N.
Nominal GDP was $12.1 trillion and real GDP is $11 trillion. The GDP price index is A: 121.0 B: 91.0 C: 110.0 D: 1.10 E. 90.1
Joram H.
Use the following information to answer this question. If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is approximately equal to A) -10%. B) 10%. C) 20%. D) 9.1%. E) 0%.
Sanchit J.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD