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 2017.

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 2017.

Quizplus · Accepted Answer

To calculate the GDP deflator, we need to use the formula:
GDP deflator = (Nominal GDP/Real GDP) x 100
In 2017, Nominal GDP was $18,200 billion and Real GDP was $14,400 billion. 
Therefore, GDP deflator = (18,200/14,400) x 100 = 126.39 ≈ 126. 
Therefore, the correct choice is B with a value of 126.

Refer to Table 13 -Refer to Table 13