Advertisements
Advertisements
Question
If the Real Gross Domestic Product is Rs 250 and the Price Index (base = 100) is 120, calculate the Nominal Gross Domestic Product.
Advertisements
Solution
Real GDP = `"Nominal GDP"/"Price Index of Current Year" xx 100`
`250 = "Nominal GDP"/120 xx 100`
Nominal GDP = 300
shaalaa.com
Gross and Net Domestic Product at Market Price
Is there an error in this question or solution?
