Table 12-19
$\begin{array}{|l|c|r|}
\hline & \mathbf{2 0 1 7} & {\mathbf{2 0 1 8}} \
\hline \text { Nominal GDP } & \$ 10,000 & \$ 12,000 \
\hline \text { Real GDP } & 9,500 & 10,500 \
\hline
\end{array}$
-Refer to Table 12-19.Given the information above,calculate the GDP deflator in 2017.

Question

Table 12-19
 $\begin{array}{|l|c|r|}
\hline & \mathbf{2 0 1 7} & {\mathbf{2 0 1 8}} \
\hline \text { Nominal GDP } & \$ 10,000 & \$ 12,000 \
\hline \text { Real GDP } & 9,500 & 10,500 \
\hline
\end{array}$
-Refer to Table 12-19.Given the information above,calculate the GDP deflator in 2017.

Quizplus · Accepted Answer

The GDP deflator is calculated as (Nominal GDP / Real GDP) * 100. For 2017, it is (10,000 / 9,500) * 100 = 105.

Table 12-19 -Refer to Table 12-19