 Social Studies
11 June, 11:13

# Nominal GDP in a given year is \$1.2 trillion, real GDP in the same year is \$1.1trillion. The GDP Deflator is:1.0909109.09O 0.91691.66

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Answers (1)
1. 11 June, 12:08
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109.9

Explanation:

GDP deflator is the calculation of the new prices of all the goods and services produced domestically in a given year.

GDP deflator is calculated by the division of the nominal GDP by the Real GDP and multiplying by 100.

GDP deflator = Nominal GDP/Real GDP*100

This translates to 1.2 trillion dollars/1.1 trillion dollars which will give 1.0909

The 1.0909 is then multiplied by 100 to give 109.9.
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