In 2010, real GDP was $13.2 trillion and the GDP deflator was 110.6. What was nominal GDP for that year?
A) $14.6 trillion
B) $14.3 trillion
C) $12.1 trillion
D) $11.9 trillion

Name: In 2010, real GDP was $13.2 trillion and the GDP deflator was 110.6. What was nominal GDP for that year? A) $14.6 trillion B) $14.3 trillion C) $12.1 trillion D) $11.9 trillion
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Question

Quizplus · Accepted Answer

Nominal GDP is calculated by multiplying real GDP by the GDP deflator (divided by 100). So, $13.2 trillion * (110.6/100) = $14.6 trillion.

In 2010, Real GDP Was $13