When nominal Gross Domestic Product is �

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Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: National Income Accounting

Question:

When nominal Gross Domestic Product is ₹840 corer and price index is 120, then the Real Gross Domestic Product will be.

Options:

₹700 crore

₹900 crore

₹800 crore

₹500 crore

Correct Answer:

₹700 crore

Explanation:

The correct answer is Option (1) → ₹700 crore

Real GDP= (Nominal GDP / Price Index) * 100

Real GDP= (840/ 120) * 100 = ₹700 crore