Thank you for visiting If Nominal GDP is 2 5 trillion and the GDP deflator is 125 then real GDP is equal to A 3 trillion B 2 trillion. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Final answer:
Real GDP is calculated by dividing the Nominal GDP by the GDP Deflator, given a value of 100. In this instance, the Real GDP is $2 trillion. Thus (option b) is right.
Explanation:
The question pertains to calculating Real GDP using Nominal GDP and the GDP deflator.
The formula for Real GDP is Nominal GDP / (GDP Deflator / 100).
So, in this instance, we have a Nominal GDP of $2.5 trillion and GDP deflator of 125.
Plugging those values in the formula gives us $2.5 trillion / (125/100) = $2 trillion.
Thus, the correct answer is (b) $2 trillion.
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