Table 8-19

-Refer to Table 8-19.Given the information above,calculate the GDP deflator in 2015.

Question

Table 8-19
 
-Refer to Table 8-19.Given the information above,calculate the GDP deflator in 2015.

Quizplus · Accepted Answer

The GDP deflator formula is (Nominal GDP/Real GDP) x 100. 
The nominal GDP for 2015 is given as $525 billion. 
To find the real GDP for 2015, we need to use the base year 2010. The real GDP for 2010 is given as $500 billion. 
Therefore, the GDP deflator for 2015 is (525/500) x 100 = 105. 
Thus, the correct answer is C.

Table 8-19 -Refer to Table 8-19.Given the Information Above,calculate the GDP Deflator