In 2011, the value of the GDP deflator is 113. (Enter your response rounded to the nearest whole number.) In 2012, the value of the GDP deflator is 119. (Enter your response rounded to the nearest whole number.)

2011 = 113

2012 = 119

Explanation:

The computation is shown below:

GDP deflator = (Nominal GDP) : (Real GDP) * 100

For 2011, it would be

= ($ 13,495 billion) : ( $11,919 billion) * 100

= 113

For 2012, it would be

= ($14,241 billion) : ( $12,007 billion) * 100

= 119

In order to find out the GDP deflator, we divided the Nominal GDP by the Real GDP