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Question
When Nominal Gross Domestic Product (GDP) is ₹ 850 crores and Price Index is 170, Real Gross Domestic Product (GDP) will be ______.
Fill in the Blanks
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Solution
When Nominal Gross Domestic Product (GDP) is ₹ 850 crores, and Price Index is 170, Real Gross Domestic Product (GDP) will be ₹ 500 crores.
Explanation:
Real = `"Nominal GDP"/"Price Index" xx 100`
= `850/170 xx 100`
= 500
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2019-2020 (March) Delhi Set 3
