Table 19-14

-Refer to Table 19-14. 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 19-14
 
-Refer to Table 19-14. 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 need to use the formula: 
GDP Deflator = (Nominal GDP / Real GDP) x 100 
In 2013, Nominal GDP was $17,073.9 billion and Real GDP was $15,708.3 billion. 
So, GDP deflator = (17,073.9 / 15,708.3) x 100 = 108.5
Therefore, the correct answer is C.

Table 19-14 -Refer to Table 19-14. Consider the Following Data on Nominal