f the nominal GDP = $352b and real GDP = $320b, what is the value of the GDP deflator?Multiple choice question.–9%1109110%
Question
f the nominal GDP = 320b, what is the value of the GDP deflator?Multiple choice question.–9%1109110%
Solution
The GDP deflator can be calculated using the formula:
GDP Deflator = (Nominal GDP / Real GDP) x 100
Substituting the given values into the formula:
GDP Deflator = (320b) x 100
GDP Deflator = 1.1 x 100 = 110
So, the value of the GDP deflator is 110. The answer is 110.
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