If nominal GDP rises from $100 trillion to 20 trillion, while the GDP deflator rises from 2.0 2.2, the percentage change in real GDP is proximately equal to -10%.

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section7.4: Real Gdp
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If nominal GDP rises from $100 trillion to
$120 trillion, while the GDP deflator rises from 2.0
to 2.2, the percentage change in real GDP is
approximately equal to
A) -10%.
B) 0%.
C) 10%.
D) 20%.
E) 30%.
Transcribed Image Text:If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is approximately equal to A) -10%. B) 0%. C) 10%. D) 20%. E) 30%.
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