Table 4.14
-Refer to Table 4.14.Consider the data shown above on nominal GDP and real GDP (values are in billions of dollars).The GDP deflator for 2016 equals

Question

Table 4.14 
-Refer to Table 4.14.Consider the data shown above on nominal GDP and real GDP (values are in billions of dollars).The GDP deflator for 2016 equals

Quizplus · Accepted Answer

To calculate the GDP deflator, we use the formula: 
GDP Deflator = (Nominal GDP / Real GDP) * 100

For the year 2016, the nominal GDP is $18,624 billion and the real GDP is $17,225 billion. 
Therefore, GDP Deflator = (18,624 / 17,225) * 100 = 108.2

Hence, the correct answer is C.

Table 4.14 -Refer to Table 4.14.Consider the Data Shown Above on Nominal