Refer to Table 13.2 for the following questions.
Table 13.2
$$\begin{array} { | l | c | c | }
\hline & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 8 } \
\hline \text { Nominal GDP } & \$ 12000 & \$ 13000 \
\hline \text { Real GDP } & \$ 9500 & \$ 10500 \
\hline
\end{array}$$
-Refer to Table 13.2.Calculate the GDP deflator in 2018.

Question

Refer to Table 13.2 for the following questions.
Table 13.2
 $$\begin{array} { | l | c | c | } 
\hline & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 8 } \
\hline \text { Nominal GDP } & \$ 12000 & \$ 13000 \
\hline \text { Real GDP } & \$ 9500 & \$ 10500 \
\hline
\end{array}$$
-Refer to Table 13.2.Calculate the GDP deflator in 2018.

Quizplus · Accepted Answer

The GDP deflator is calculated by dividing nominal GDP by real GDP and multiplying by 100. In 2018, the GDP deflator is (13000/10500) * 100 = 123.81, which is closest to 124.

Refer to Table 13 -Refer to Table 13