Sharlette Sharlette

12-05-2021
Advanced Placement (AP)

contestada

In the economy above, real GDP for year 1 is:

$512.

$393.

$480.

$691.

$460.

Respuesta :

Parrain Parrain

17-05-2021

Answer: $393

Explanation:

Real GDP is the nominal GDP after it is adjusted for inflation. When using the price index, it can be adjusted by the formula:

Real GDP = Nominal GDP for year 1 / Price index for year 1 * 100

= 550 / 140 * 100

= 392.8571

= $393

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