If nominal GDP in some year is $280 and real GDP is $160, then the GDP price index for that year is
A) 175.
B) 57.
C) 160.
D) 280.

Name: If nominal GDP in some year is $280 and real GDP is $160, then the GDP price index for that year is A) 175. B) 57. C) 160. D) 280.
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Quizplus · Accepted Answer

The GDP price index is calculated as (Nominal GDP / Real GDP) * 100. Therefore, (280 / 160) * 100 = 175.

If Nominal GDP in Some Year Is $280 and Real