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 2015 equals

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 2015 equals

Quizplus · Accepted Answer

The GDP deflator is calculated by dividing nominal GDP by real GDP and multiplying by 100. The GDP deflator for 2015 would be (17250/16200) x 100 = 106.2, which is closest to option C.

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