Thank you for visiting In 2010 nominal GDP was 14 6 trillion and the GDP deflator was 110 6 What was real GDP for that year A 16 1. 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 real GDP for that year was approximately $13.183 trillion. Thus, the correct answer is C) $13.2 trillion.
What was real GDP for that year?
To calculate the real GDP, we need to divide the nominal GDP by the GDP deflator and multiply by 100. The formula is:
Real GDP = (Nominal GDP / GDP deflator) * 100
Using the given values:
Nominal GDP = $14.6 trillion
GDP deflator = 110.6
Real GDP = ($14.6 trillion / 110.6) * 100
Real GDP = $13.183 trillion
Therefore, the real GDP for that year was approximately $13.183 trillion. Thus, the correct answer is C) $13.2 trillion.
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