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Consider this data from a hypothetical country in 2020: Nominal GDP was calculated to be $12,600 trillion; the GDP deflator for that same year is estimated to be 105. Real GDP for 2020 would be approximately A) $13,230 trillion. B) $12,600 trillion. C) $12,000 trillion. D) None of the above answers are correct.

Consider this data from a hypothetical country in 2020: Nominal GDP was calculated to be $12,600 trillion; the GDP deflator for that same year is estimated to be 105. Real GDP for 2020 would be approximately A) $13,230 trillion. B) $12,600 trillion. C) $12,000 trillion. D) None of the above answers are correct.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 20CTQ: U.S. macroeconomic data are among the best in the world. Given what you learned in the Clear It Up...
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Consider this data from a hypothetical country in 2020: Nominal GDP was calculated to be $12,600 trillion; the GDP deflator for that same year is estimated to be 105. Real GDP for 2020 would be approximately A) $13,230 trillion. B) $12,600 trillion. C) $12,000 trillion. D) None of the above answers are correct.
Transcribed Image Text:Consider this data from a hypothetical country in 2020: Nominal GDP was calculated to be $12,600 trillion; the GDP deflator for that same year is estimated to be 105. Real GDP for 2020 would be approximately A) $13,230 trillion. B) $12,600 trillion. C) $12,000 trillion. D) None of the above answers are correct.
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