Question

Year 2019 2020 2021 Nominal GDP (in $billion) 883 948 Real GDP (in $billion) 748 GDP Deflator (2002 = 100) 120 126 Population (in million) 52.8 54 Real GDP per Capita 14,330 14,890 Refer to the information above to answer this question. What is the value of the GDP deflator in 2019? Question 3 Answer a. 52.2 b. 61.8 c. 84.4 d. 100 e. 118.0

Name: year 2019 2020 2021 nominal gdp in billion 883 948 real gdp in billion 748 gdp deflator 2002 100 120 126 population in million 528 54 real gdp per capita 14330 14890 refer to the information 03844
Uploaded: 2023-09-01T16:06:39-08:00
Duration: 1 min 12 s
Channel: Rashmi Sinha
Description: year 2019 2020 2021 nominal gdp in billion 883 948 real gdp in billion 748 gdp deflator 2002 100 120 126 population in million 528 54 real gdp per capita 14330 14890 refer to the information 03844

          Year 2019 2020 2021
Nominal GDP (in $billion) 883 948 
Real GDP (in $billion) 748  
GDP Deflator (2002 = 100)  120 126
Population (in million)  52.8 54
Real GDP per Capita 14,330  14,890

Refer to the information above to answer this question. What is the value of the GDP deflator in 2019?

Question 3 Answer
a. 52.2
b. 61.8
c. 84.4
d. 100
e. 118.0

Added by Denise G.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Rashmi Sinha

09/01/2023

Step 1

Step 1: Calculate the GDP deflator formula GDP Deflator = (Nominal GDP / Real GDP) * 100 Show more…

Show all steps

Thanks for your feedback!

Year 2019 2020 2021 Nominal GDP (in $billion) 883 948 Real GDP (in $billion) 748 GDP Deflator (2002 = 100) 120 126 Population (in million) 52.8 54 Real GDP per Capita 14,330 14,890 Refer to the information above to answer this question. What is the value of the GDP deflator in 2019? Question 3 Answer a. 52.2 b. 61.8 c. 84.4 d. 100 e. 118.0