-Refer to Table 15 -12. Consider the following data on nominal GDP and real GDP (values are in billions of dollars) : The GDP deflator for 1998 equals

Question

-Refer to Table 15 -12. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 1998 equals

Quizplus · Accepted Answer

The GDP deflator is calculated as (Nominal GDP / Real GDP) * 100. Without the specific values from Table 15-12, we can't calculate the exact number, but the correct process involves dividing the nominal GDP by the real GDP for the year in question and then multiplying by 100 to get the GDP deflator. The choice provided as correct (C) suggests that the correct calculation based on the data from Table 15-12 would result in a GDP deflator of 103.2.