If nominal GDP for a particular year is $4 trillion and real GDP for that year is $5 trillion,then the GDP price index for that year is
A)1.25
B)20
C)25
D)80
E)125

Name: If nominal GDP for a particular year is $4 trillion and real GDP for that year is $5 trillion,then the GDP price index for that year is A)1.25 B)20 C)25 D)80 E)125
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Quizplus · Accepted Answer

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

If Nominal GDP for a Particular Year Is $4 Trillion