If money GDP was $6.0 trillion in a particular year, and the GDP price index number for that year was 75.0, real GDP would be:
A) $4.5 trillion.
B) $5.25 trillion.
C) $6.75 trillion.
D) $8.00 trillion.

Question

Quizplus · Accepted Answer

Real GDP is calculated by dividing the nominal (or money) GDP by the GDP deflator (price index) and then multiplying by 100. In this case, real GDP = ($6.0 trillion / 75.0) * 100 = $8.0 trillion.

If Money GDP Was $6