Table 12-15
$\begin{array}{|c|c|c|}
\hline \text { Year } & \begin{array}{c}
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2016 & \$ 13,399 & \$ 12,976 \
\hline 2017 & 14,078 & 13,254 \
\hline 2018 & 14,441 & 13,312 \
\hline
\end{array}$
-Refer to Table 12-15.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2017 equals

Question

Table 12-15
 $\begin{array}{|c|c|c|}
\hline \text { Year } & \begin{array}{c}
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2016 & \$ 13,399 & \$ 12,976 \
\hline 2017 & 14,078 & 13,254 \
\hline 2018 & 14,441 & 13,312 \
\hline
\end{array}$
-Refer to Table 12-15.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2017 equals

Quizplus · Accepted Answer

The formula for calculating the GDP deflator is:
GDP deflator = (nominal GDP / real GDP) x 100
Using the values in the table for 2017:
GDP deflator = (14,078 / 13,254) x 100 = 105.1
Therefore, the correct answer is (B) 105.1.

Table 12-15 -Refer to Table 12-15