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    Question

    In a given year, the nominal GDP of a country was $2,500

    billion and the real GDP was $2,000 billion. What is the GDP deflator for that year?
    A 100 Correct Answer Incorrect Answer
    B 115 Correct Answer Incorrect Answer
    C 125 Correct Answer Incorrect Answer
    D 150 Correct Answer Incorrect Answer

    Solution

    The GDP deflator is calculated using the formula: GDP deflator = (Nominal GDP/Real GDP)*100   = (2500/2000)*100 = 125

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