If consumption is $500, government expenditures is $200, GNP is $800, Gross Private Domestic Investment is $100, Imports is $100, and Exports is $100. If the dollar amounts of the items above are nominal amounts in Year 2017, and the quantities of units are identical in years 2010 and 2017, but prices in 2010 were 20% less than 2017, Real GDP in 2017 using 2010 as the base year is equal to what?

Economics (MindTap Course List)
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ISBN:9781337617383
Author:Roger A. Arnold
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Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
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If consumption is $500, government expenditures is $200, GNP is $800, Gross Private Domestic Investment is $100, Imports is $100, and Exports is $100. If the dollar amounts of the items above are nominal amounts in Year 2017, and the quantities of units are identical in years 2010 and 2017, but prices in 2010 were 20% less than 2017, Real GDP in 2017 using 2010 as the base year is equal to what?

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