if the real gross domestic product is Rs. 250 and price index (base=10 – InterviewSolution

InterviewSolution

1.

if the real gross domestic product is Rs. 250 and price index (base=100) is Rs. 120, calculate the Nominal Gross Domestic Product.

Answer»

300

Explanation:

Real GDP = Nominal GDP / Price Index X 100 or R = N/P

250 = N/ 120 X 100

⇒ 250 X 120 = N X 100

⇒ 30000/100 = N

⇒ N = 300

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