Advertisement Remove all ads

If the Real Gross Domestic Product is Rs 250 and the Price Index (Base = 100) is 120, Calculate the Nominal Gross Domestic Product. - Economics

If the Real Gross Domestic Product is Rs 250 and the Price Index (base = 100) is 120, calculate the Nominal Gross Domestic Product.

Advertisement Remove all ads

Solution

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

`250 = "Nominal GDP"/120 xx 100`

Nominal GDP = 300

Concept: Gross and Net Domestic Product (GDP and NDP)
  Is there an error in this question or solution?
Advertisement Remove all ads
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×