Thank you for visiting 1 If the GDP deflator in 2022 equals 1 25 and nominal GDP in 2022 equals 15 trillion what is the value of real GDP. 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 :
Real GDP in 2022 is $12 trillion.
Given information
Nominal GDP in 2022 = $15 trillion
GDP deflator in 2022 = 1.25
Formula
The formula to calculate the real GDP is:
Real GDP = (Nominal GDP/GDP deflator) * 100
Calculation
The calculation of real GDP in 2022 can be determined using the above formula.
Substitute the given values in the formula:
Real GDP = (Nominal GDP/GDP deflator) * 100
= (15,000/1.25) * 100
= 12,000 * 100
= $1,200,000
Real GDP in 2022 is $12 trillion.
Therefore, option A, $12 trillion, is the correct answer.
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