A country has nominal GDP equal to $206.53 billion in 2018. The GDP deflator in 2018 has a value of 116.76. What was the value of real GDP, in billions of dollars. Round to two decimal places. If your answer is 3.2 billion then just enter 3.2.

Q: which of the below statements about the U.S. GDP do you think is INCORRECT?   Group of answer…

A: * ANSWER :-  The OPTION C is answer

Q: Suppose the nominal GDP of country X in 2013 was equal to 10000. The deflator index in 2014 was 107%…

A:

Q: In 2018 in an imaginary country real GDP and nominal GDP are equal to each other. And in 2019…

A: here we calculate the GDP deflator and Inflation rate by using the given information which are as…

Q: 1 Calculate the Nominal GDP for 2016. Show your calculation. 2 Calculate the Nominal GDP for 2017.…

A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…

Q: Gross Domestic Product (GDP) is the broadest measure of output for an economy. However, GDP does…

A: GDP stands for gross domestic product. It is the value of all final goods and services produced in…

Q: If I have an economy that produces only one good and in year i the quantity is Qi and the price is…

A: Nominal GDP could be measure multiplying by quantity of current year with current price. Real GDP…

Q: The income based GDP formula states that GDP is the sum of wages, rent, and interest, and…

A: According to income based approach GDP is the sum of wages,rent and interest and profits in a given…

Q: If Gdp deflator is less than 100   it means that  :  1- stagflation  2- deflation  3- inflation…

A: The GDP deflator is an economy measure that is used to compute the inflation rate in the economy in…

Q: True or false: GDP is better indicator of a country as well because it gives a better indication…

A: GDP is the production of goods and services during an accounting year.

Q: In an economy, Real GDP (base year = 1996) is $100 billion and the Nominal GDP is $150 billion.…

A: Gross Domestic Product GDP is the sum total of all goods and services that are produced by the…

Q: What wil be the economic condition if GDP deflator is 107

A: GDP deflator tells us the inflation rate in the country. It is calculated by dividing the GDP at the…

Q: A south sea island produces only coconuts.    In​ 2015, the price of a coconut is ​$2.50 and the…

A: Real GDP: - it is the inflation-adjusted value of all final goods and services produced in any…

Q: If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to…

A: Real gross domestic product is a macroeconomic measure of the value of economic output adjusted for…

Q: Nominal GDP in 2018 is $ Nominal GDP in 2019 is S.

A: Nominal gdp is calculated on the current price.

Q: Find Nominal GDP if GDP deflator is 136 and real GDP is $16,000

A: The data presented in the question above is:- GDP deflator = 136 Real GDP = $16,000 Nominal GDP is…

Q: Compare the term GDP, GNP, National income with the help of statistics of pakistan?

A: GDP i.e., gross domestic product is the value of a nation's finished domestic goods and services…

Q: a. If the price of protein bars rose from $2.40 to $2.70 over this period, while the price of…

A: Nominal GDP = Price of goods in current year * Quantity of goods in current year Real GDP = Price of…

Q: Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 10 bars…

A: In an economy, GDP deflator explains the Inflation rate in a specific year because it explains the…

Q: Instructions: Round your responses to the nearest billion, If you are entering any negative numbers…

A: The given table gives information about the nominal GDP and GDP deflator for year 2000 to 2019.

Q: The GDP price index in the United States in 2016 was about 106, and real GDP in 2016 was $17.7…

A: Given data: In 2016, GDP price index was 106 Real GDP = $17.7 trillion

Q: Why the use real GDP is preferred by economists over nominal GDP to gauge economic well-being? (100…

A: Real GDP is the GDP which the economy is actually producing ie after the inflation has been taken…

Q: Suppose a small economy produces only smart TVs. In year one, 100,000 TVs are produced and sold at a…

A: In an economy, real GDP and nominal GDP has significant difference that makes the gap between these…

Q: Is GDP a main indicator of a country's economic well-being? Why and why not?

A: Gross domestic product is the money value of all final goods and services produced by normal…

Q: what is the nominal GDP for year 2019?

A: Gross domestic price is also known as nominal GDP

Q: Suppose that the UK’s nominal GDP in 2018 was £2.1 billion, while the GDP in real terms for 2018 is…

A: Nominal GDP = 2.1 billion Real GDP = 1.4 billion

Q: If Gdp deflator is equal at 120   it means that  :  1- stagflation  2- deflation  3- inflation…

A: The GDP price deflator measure the changes in prices by comparing nominal GDP to real GDP.

Q: How useful is GDP as a measure for countries' well-being and why? What other measures could be…

A: Gross Domestic Product (GDP) is referred to the well-being of the economy. GDP identifies over the…

Q: In an economy, Real GDP for year 2002 (base year = 1996) is $200 billion and the GDP deflator 2002…

A: A price index number is a macroeconomic measure that compares a series of prices in different time…

Q: 1. Find per capita GDP when the population is 100 million and GDP is $2 trillion. 2. Find per…

A: The per capita gross domestic product (GDP) is a financial measure that calculates a country's…

Q: Why the use real GDP is preferred by economists over nominal GDP to gauge economic well-being?

A: Gross Domestic Product denotes the total aggregate output that is produced in the country at a given…

Q: Nominal GDP of a country  is $400 million and Real GDP $200. Calculate the GDP deflator.

A: Below are the given values: Given the Nominal GDP = $400 Real GDP = $200

Q: The GDP price index in the United States in 2016 was about 106, and real GDP in 2016 was $17.7…

A: Nominal GDP is the evaluation of current market prices it shows the Monetary value of all the goods…

Q: Why do economists use nominal GDP to compare different countries at a single point in time, but use…

A: Nominal GDP : When the GDP is measured in terms of the current market price and measures the value…

Q: Suppose the GDP for a country is $0. Does this mean that there was no productive activity in the…

A: Gross domestic product is the sum of the value of all goods and services produced in a nation.

Q: Suppose that nominal GDP was $9250000.00 in 2005 in Orange County California. In 2015, nominal GDP…

A: A) Nominal GDP growth rate is the % change in nominal GDP from 2005 to 2015   nominal GDP growth =…

Q: If the GDP deflator rose by 10% last year and nominal GDP grew by 7%, then real GDP must  have: a.…

A: The GDP price deflator tracks price fluctuations across all commodities and services produced in a…

Q: The table attached gives data on the production and prices in a small economy. Use 2012 as the base…

A: There are two types of GDP: real GDP and Nominal GDP. The Nominal GDP is the money value of goods…

Q: The difference between Nominal GDP and Real GDP is

A: Usually there must be change between nominal gdp and real gdp.

Q: 10 - : What do we get if we divide the nominal GDP value for a certain period in a country by the…

A: Nominal GDP is the market value of all the final goods and services produced within the borders of…

Q: was about 106, and real GDP in 2016 was $17.7 trillion (2012 dolla e GDP price index in the United…

A: Nominal GDP measures market value of goods and services using current prices whereas real GDP uses…

Q: GDP rises from $5.5 trillion in 2014, the base year, to $9.5 trillion in 2018. The GDP deflator in…

A: Nominal GDP = Current Year Prices * Current Year Quantities Real GDP = Base Year Prices * Current…

Q: The 2017 U.S. gross domestic product (GDP) was valued at 19,390,604,000 dollars. How many Gateway…

A: Gross Domestic Product Gross domestic product estimates the value of all finished goods and services…

Q: Calculate the change in price level in 2019 compared to 2009 using GDP deflator.

A: Nominal GDP measures market value of goods and services using current price whereas real GDP…

Q: Nominal GDP Real GDP in 2011, the value of the GDP deflator is in 2012, the value of the GDP…

A: In economics, the GDP deflator is a measure of the level of prices of all new, domestically…

Q: If nominal GDP for 2017 is $62 trillion and real GDP for 2017 is $46 trillion, then the GDP deflator…

A: The GDP deflator measures the changes in prices for all of the goods and services produced in an…

Q: What calculation gives the best indication of economic well-being? nominal GDP divided by the number…

A: Standard of living means the average quantity or quality of goods and services that people in a…

Q: a. Explain in what way GDP is a measure of the standard of living in a country.

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…