year nominal GDP REAL GDP PRICE INDEX 1 5200 4800 2 5600 5000 112 3 5900 5100 Refer to the table (GDP figures are in billion of dollars) What is GDP price index in year 3?
year nominal GDP REAL GDP PRICE INDEX 1 5200 4800 2 5600 5000 112 3 5900 5100 Refer to the table (GDP figures are in billion of dollars) What is GDP price index in year 3?
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 4SQ
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Question
year | nominal |
REAL GDP | ||||||
1 | 5200 | 4800 | ||||||
2 | 5600 | 5000 | 112 | |||||
3 | 5900 | 5100 |
Refer to the table (GDP figures are in billion of dollars) What is GDP price index in year 3?
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