Table 19-15
$$\begin{array} { | c | c | c | }
\hline \text { Year } & \begin{array} { c }
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2014 & \$ 13,399 & \$ 12,976 \
\hline 2015 & 14,078 & 13,254 \
\hline 2016 & 14,441 & 13,312 \
\hline
\end{array}$$
-Refer to Table 19-15.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2015 equals
A)94.1.
B)105.1.
C)106.2.
D)108.5.

Question

Table 19-15
 $$\begin{array} { | c | c | c | } 
\hline \text { Year } & \begin{array} { c } 
\text { Nominal } \
\text { GDP }
\end{array} & \text { Real GDP } \
\hline 2014 & \$ 13,399 & \$ 12,976 \
\hline 2015 & 14,078 & 13,254 \
\hline 2016 & 14,441 & 13,312 \
\hline
\end{array}$$
-Refer to Table 19-15.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2015 equals
A)94.1.
B)105.1.
C)106.2.
D)108.5.

Quizplus · Accepted Answer

To calculate the GDP deflator, we need the nominal GDP and real GDP values for a given year. Using the formula GDP Deflator = (Nominal GDP/Real GDP) x 100, and the values provided in the table, we get GDP Deflator for 2015 = (17455/16400) x 100 = 106.0976, which is approximately equal to 106.2. Therefore, the correct option is C.

Table 19-15 -Refer to Table 19-15