Suppose nominal GDP for a particular year is $6 trillion and real GDP for that year is $5 trillion.What is the GDP price index for that year?

Name: Suppose nominal GDP for a particular year is $6 trillion and real GDP for that year is $5 trillion.What is the GDP price index for that year?
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Question

Quizplus · Accepted Answer

The GDP price index is calculated as (Nominal GDP / Real GDP) * 100. So, for this year, it would be ($6 trillion / $5 trillion) * 100 = 120.

Suppose Nominal GDP for a Particular Year Is $6 Trillion