GDP is $10 trillion in 2001. If the GDP deflator is 100 in 2000 and is 110 in 2001, what is real GDP?
A) $10.0 trillion
B) $11.1 trillion
C) $9.09 trillion
D) $110.0 trillion

Name: GDP is $10 trillion in 2001. If the GDP deflator is 100 in 2000 and is 110 in 2001, what is real GDP? A) $10.0 trillion B) $11.1 trillion C) $9.09 trillion D) $110.0 trillion
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Quizplus · Accepted Answer

Real GDP is calculated by dividing nominal GDP by the GDP deflator and then multiplying by 100. So, $10 trillion / 110 * 100 = $9.09 trillion.

GDP Is $10 Trillion in 2001