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If the Real Gdp is Rs 300 and Nominal Gdp is Rs 330, Calculate Price Index (Base = 100). - Economics

If the Real GDP is Rs 300 and Nominal GDP is Rs 330, calculate Price Index (base = 100).

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Solution

Real GD = `"National GDP"/"Price Index of Current Year" xx 100`

`300 = 330/"Price Index" xx 100`

Price Index  = 110

Concept: Gross and Net Domestic Product (GDP and NDP)
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