Table 12-14
$$\begin{array} { | c | c | c | }
\hline \text { Year } & \begin{array} { c }
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2012 & 14,078 & 13,254 \
\hline 2013 & 14,441 & 13,312 \
\hline
\end{array}$$
-Refer to Table 12-14.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2013 equals

Question

Table 12-14
 $$\begin{array} { | c | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2012 & 14,078 & 13,254 \
\hline 2013 & 14,441 & 13,312 \
\hline
\end{array}$$
-Refer to Table 12-14.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2013 equals

Quizplus · Accepted Answer

The GDP deflator is calculated as (Nominal GDP/Real GDP) x 100.

For 2013, nominal GDP is $14,441 billion and real GDP is $13,312 billion.

So, the GDP deflator for 2013 = (14,441/13,312) x 100 = 108.5.

Therefore, the correct answer is C.

Table 12-14 -Refer to Table 12-14