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

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Solution

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

Real GDP = $\frac{N o m i n a l G D P}{P r i c e I n d e x} \times 100$ $\Rightarrow$ 200 = $\frac{N o m i n a l G D P}{110} \times 100$

Nominal GDP = $\frac{200 \times 110}{100}$ = Rs 220

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