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Answer :
Final answer:
The real GDP in 2017 is approximately $25.88 trillion.
Explanation:
To calculate the real GDP in 2017, we need to adjust the nominal GDP of $22 trillion for the 15% decrease in the price level.
First, we need to find the new price level after the 15% decrease. To do this, we multiply the original price level by (1 - 15%).
Original price level = 100%
New price level = 100% - 15% = 85%
Next, we divide the nominal GDP by the new price level to get the real GDP.
Real GDP = Nominal GDP / New price level
Real GDP = $22 trillion / 85%
Calculating this, we find that the real GDP in 2017 is approximately $25.88 trillion.
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