Macroeconomic Objectives and National Income Accounting
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Free Economics Q & A Practice 1 of 5 free exam-style exercises in this topic
Nominal and real GDP comparisonGDP measureGDP, billionsNominal 1260Real GDP = ?Deflator = 105
EvidenceValue
Nominal GDP$1,260bn
GDP deflator105
Base-year index100

Nominal GDP is $1,260bn and the deflator is 105. Real GDP at base-year prices is:

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