Nominal GDP GDP deflator Population Year 3 $ 5 , 000 125 11 Year 4 $ 6 , 600 150 12 Refer to the table mentioned above. What is the real GDP in year 3? Options: A . &nbsp4000 B . &nbsp2000 C . &nbsp1000 D . &nbsp5000

Answer: Option A : A Real GDP = Nominal GDP GDP deflator = 5 , 000 125 × 100 = 4 , 000

Nominal GDPGDP deflatorPopulationYear 3$5,00012511Year 4$6,60015012 Refer to th

Question

\begin{matrix} Nominal GDP & GDP deflator & Population Year 3 & $ 5, 000 & 125 & 11 Year 4 & $ 6, 600 & 150 & 12 \end{matrix}

Refer to the table mentioned above. What is the real GDP in year 3?

Options:

A . 4000

B . 2000

C . 1000

D . 5000

Answer: Option A
:
A
Real GDP =

\frac{Nominal GDP}{GDP deflator}

\frac{5, 000}{125} \times 100 = 4, 000

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