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Question

If Real GDP is Rs 200 and Price Index (with base = 100) is 110, calculate Nominal GDP.


Solution

Real GDP = Rs 200                       
Price Index = 110                                                 
Nominal GDP = ?

Real GDP = Nominal GDPPrice Index×100      200 = Nominal GDP110×100

Nominal GDP = 200×110100 = Rs 220         


Economics

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