Year Nominal GDP Real GDP 1 5,100 4,800 2 5,500 5,000 3 5,750 5,100 Refer to the table. GDP figures are in billions of dollars. What is the GDP price index in Year 3? Multiple Choice 112.70 104.55 117.84

Year Nominal GDP Real GDP 1 5,100 4,800 2 5,500 5,000 3 5,750 5,100 Refer to the table. GDP figures are in billions of dollars. What is the GDP price index in Year 3? Multiple Choice 112.70 104.55 117.84

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter6: How Statisticians Measure Inflation

Section6.A: How Statisticians Measure Inflation

Problem 2TY

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Question

Year	Nominal GDP	Real GDP
1	5,100	4,800
2	5,500	5,000
3	5,750	5,100

Refer to the table. GDP figures are in billions of dollars. What is the GDP price index in Year 3?

Multiple Choice

112.70
104.55
117.84

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