If real GDP in a particular year is $80 billion and nominal GDP is $240 billion, the GDP price index for that year is
A) 100.
B) 200.
C) 240.
D) 300.

Name: If real GDP in a particular year is $80 billion and nominal GDP is $240 billion, the GDP price index for that year is A) 100. B) 200. C) 240. D) 300.
Brand: Quizplus
Rating: 4.7 (39 reviews)

Question

Quizplus · Accepted Answer

The GDP price index is calculated as (Nominal GDP / Real GDP) * 100. Therefore, ($240 billion / $80 billion) * 100 = 300.

If Real GDP in a Particular Year Is $80 Billion