Table 12-11

-Refer to Table 12-11.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2011 equals

Question

Table 12-11
 
-Refer to Table 12-11.Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2011 equals

Quizplus · Accepted Answer

To find the GDP deflator, we need to divide nominal GDP by real GDP and multiply the result by 100. Using the values from the table, we get [(15,534/14,310) x 100] = 108.5. Therefore, the answer is C.

Table 12-11 -Refer to Table 12-11.Consider the Following Data on Nominal GDP