f the nominal GDP = $352b and real GDP = $320b, what is the value of the GDP deflator?Multiple choice question.–9%1109110%
Question
Solution 1
The GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and services in an economy.
Here's how you calculate it:
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You start with the formula for the GDP deflator which is: GDP Deflator = (Nominal GDP / Real GDP) x 100
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You plug in the given values: Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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