Table 8-14

-Refer to Table 8-14.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2013 equals
A)92.2.
B)102.6.
C)108.5.
D)109.1.

Question

Table 8-14
 
-Refer to Table 8-14.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2013 equals
A)92.2. 
B)102.6. 
C)108.5. 
D)109.1.

Quizplus · Accepted Answer

To calculate the GDP deflator, we use the formula: 
GDP deflator = (Nominal GDP / Real GDP) x 100
Plug in the values given for 2013: 
GDP deflator = (16,245 / 14,967) x 100
GDP deflator = 108.5
Therefore, the correct answer is choice C.

Table 8-14 -Refer to Table 8-14.Consider the Following Data on Nominal GDP