Nominal GDP in 1990 was $40,000, and in 2000 it was$35,000. The GDP deflator was 102 in 1990, and in 2000 itwas 95. What was real GDP in 1990? Round your answer tothe nearest hundredth.

The GDP deflator is a measure of inflation that reflects the price changes of all goods and services…

Answered: Nominal GDP in 1990 was $40,000, and in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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I am not sure how to solve 25, I think it's B but I feel like that might be wrong. I think for sure 26 is B and I don't think I can solve the GDP deflators without answering those questions first. I am also confused as to how to solve the GDP deflators even though I know the equation is Nominal GDP/Real GDP times 100.
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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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Nominal GDP in 1990 was $40,000, and in 2000 it was $35,000. The GDP deflator was 102 in 1990, and in 2000 it was 95. What was real GDP in 1990? Round your answer to the nearest hundredth.