Table 19-11

-Refer to Table 19-11.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2011 equals

Question

Table 19-11
 
-Refer to Table 19-11.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2011 equals

Quizplus · Accepted Answer

To calculate the GDP deflator, we divide the nominal GDP by the real GDP and multiply by 100. Using the data from Table 19-11:
GDP deflator for 2011 = (15,973 ÷ 14,708) x 100 = 108.5. Therefore, the correct choice is C.

Table 19-11 -Refer to Table 19-11.Consider the Following Data on Nominal GDP