If real gross domestic product (GDP)for a particular year is $5 trillion and the GDP price index for that year is 136,the nominal gross domestic product (GDP)for that year is _____.
A)$3.7 trillion
B)$4 trillion
C)$6.8 trillion
D)$27 trillion
E)$68 trillion

Question

Quizplus · Accepted Answer

Nominal GDP can be calculated using the equation: Nominal GDP = Real GDP x GDP Price Index. Plugging in the given values, Nominal GDP = $5 trillion x 136 = $680 trillion, which is option C.

If Real Gross Domestic Product (GDP)for a Particular Year Is