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hammer [34]
2 years ago
15

In 2010, real GDP was $13.2 trillion and nominal GDP was $14.6 trillion. What was the GDP deflator for that year?a. 9.6% lower b

. 9.6% higher c. 10.6% lower . d. 10.6% higher
Business
1 answer:
serg [7]2 years ago
5 0

Answer:

d. 10.6% higher

Explanation:

Given that;

Real GDP = $13.2 trillion

Nominal GDP = $14.6 trillion

GDP deflator = (Nominal GDP/Real GDP)× 100)

Hence,

GDP deflator = (14.6 / 13.2 ) × 100

GDP deflator = 110.6%

Thus,

= 110.6 - 100

= 10.6% higher

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