Suppose real GDP in a particular year is $5,000 trillion and nominal GDP in that same year is $4,000 trillion.What is the GDP price index?

Name: Suppose real GDP in a particular year is $5,000 trillion and nominal GDP in that same year is $4,000 trillion.What is the GDP price index?
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Question

Quizplus · Accepted Answer

The GDP price index is calculated as (Nominal GDP / Real GDP) * 100. Here, it is ($4,000 trillion / $5,000 trillion) * 100 = 80.

Suppose Real GDP in a Particular Year Is $5,000 Trillion