We appreciate your visit to Suppose a country has a nominal GDP of 100 trillion dollars and a real GDP of 89 trillion dollars Calculate the GDP deflator for this. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
The GDP deflator for the country is 112.36, indicating a 12.36% increase in the overall price level compared to the base year. Option (d) is the correct answer.
The GDP deflator measures the inflation rate by comparing the nominal GDP to the real GDP. It is calculated by dividing the nominal GDP by the real GDP and multiplying by 100. In this case, the nominal GDP is $100 trillion and the real GDP is $89 trillion.
Thus, the GDP deflator is (100/89) * 100 = 112.36. This means that the overall price level in the country has increased by 12.36% compared to the base year. Therefore, option (d) is the correct answer.
Learn more about GDP here: brainly.com/question/32775130
#SPJ11
Thanks for taking the time to read Suppose a country has a nominal GDP of 100 trillion dollars and a real GDP of 89 trillion dollars Calculate the GDP deflator for this. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada