In 2010, nominal GDP was $14.6 trillion and the GDP deflator was 110.6. What was real GDP for that year?
A) $16.1 trillion
B) $14.3 trillion
C) $13.2 trillion
D) $12.1 trillion

Question

Quizplus · Accepted Answer

Real GDP is calculated by dividing nominal GDP by the GDP deflator and multiplying by 100. 
Real GDP = (Nominal GDP / GDP Deflator) x 100 
Real GDP = ($14.6 trillion / 110.6) x 100 
Real GDP = $13.2 trillion.

In 2010, Nominal GDP Was $14