TIPLE CHOICE. Choose the one alternative that
2 answers:
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Answer: $393
Explanation:
Real GDP is the nominal GDP after it is adjusted for inflation. When using the price index, it can be adjusted by the formula:
Real GDP = Nominal GDP for year 1 / Price index for year 1 * 100
= 550 / 140 * 100
= 392.8571
= $393
