Answered: If the GDP deflator in 2020 equals 2…

If the GDP deflator in 2020 equals 2 and nominal GDP in 2020 equals $20 trillion, what is the value of real GDP in 2020?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the GDP deflator in 2020 equals 2 and
nominal GDP in 2020 equals $20 trillion,
what is the value of real GDP in 2020?

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