Thank you for visiting Assume that in the year 2010 the US nominal GDP was 15 trillion while the GDP deflator was 200 Calculate the US real GDP for. 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 :
The US real GDP for 2010 is $7.5 trillion (option b).
To calculate the US real GDP, we need to use the formula:
Real GDP = Nominal GDP / GDP Deflator
Given that the nominal GDP in 2010 was $15 trillion and the GDP deflator was 200, we can plug these values into the formula:
Real GDP = $15 trillion / 200
Real GDP = $75 billion
Therefore, the US real GDP for 2010 is $7.5 trillion.
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