Thank you for visiting If the nominal GDP is 13 trillion for a given year and the GDP deflator for that year is 115 then the real GDP is. 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 :
Using the formula Real GDP = Nominal GDP / (GDP Deflator / 100), the real GDP for a given year with a nominal GDP of $13 trillion and a GDP deflator of 115 is found to be $11.3 trillion. Therefore, option A is correct.
The question is about calculating the real GDP from the nominal GDP and the GDP deflator. Using the formula Real GDP = Nominal GDP / (GDP Deflator / 100), we can calculate the real GDP for the given year by dividing the nominal GDP ($13 trillion) by the GDP deflator (115) and then multiplying by 100.
Thus, Real GDP = $13 trillion / (115 / 100) = $13 trillion / 1.15 = $11.3 trillion.
Therefore, the correct answer is A: $11.3 trillion.
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