If nominal GDP for a particular year is $6 trillion and real GDP for that year is $5 trillion,then the GDP price index for that year is
A)1.2
B)17
C)20
D)83
E)120

Name: If nominal GDP for a particular year is $6 trillion and real GDP for that year is $5 trillion,then the GDP price index for that year is A)1.2 B)17 C)20 D)83 E)120
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Quizplus · Accepted Answer

The GDP price index is calculated as (Nominal GDP / Real GDP) * 100. So, ($6 trillion / $5 trillion) * 100 = 120.

If Nominal GDP for a Particular Year Is $6 Trillion