QUESTION 27
If in some year nominal GDP was $28 trillion and real GDP was $32 trillion, what was the GDP price index (deflator)?
87.5
400
114.3
896
QUESTION 28
If real GDP is 5,100 and nominal GDP is 4,900, then the GDP deflator is
104.1 so prices are higher than in the base year.
104.1 so prices are lower than in the base year
96.1 so prices are higher than in the base year.
96.1 so prices are lower than in the base year
QUESTION 29
If in some year nominal GDP was $10 trillion and real GDP was $4 trillion, what was the GDP deflator?
25
40
250
400