Which of the following statement is correct? Real GDP = Price index/Nominal GDP × 100
Which of the following statement is correct?
(a) Real GDP = Price index/Nominal GDP × 100
(b) Real GDP = Nominal GDP/Price Index × 100
(c) Nominal GDP = Real GDP/Price Index × 100
(d) Nominal GDP = Price Index/Real GdP × 100
Anurag Pathak Changed status to publish December 14, 2023
Ans – (b)
Explanation:-
It is the formula to calculate Real GDP is Nominal GDP and the price index is given.
Real GDP = Nominal GDP/Price Index × 100
Anurag Pathak Changed status to publish December 14, 2023
