Table 8-15

-Refer to Table 8-15.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2012 equals
A)94.1.
B)105.1.
C)106.2.
D)108.5.

Question

Table 8-15
 
-Refer to Table 8-15.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2012 equals
A)94.1. 
B)105.1. 
C)106.2. 
D)108.5.

Quizplus · Accepted Answer

The GDP deflator for 2012 is calculated as (Nominal GDP in 2012 / Real GDP in 2012) * 100 = (11,420 / 10,860) * 100 = 105.1.

Table 8-15 -Refer to Table 8-15.Consider the Following Data on Nominal GDP