What is the value of real GDP if nominal GDP is ₹3300 crores and GDP deflator is 150. |
₹2200 crores ₹3150 crores ₹3000 crores ₹3450 crores |
₹2200 crores |
GDP deflator is basically calculated to eliminate the effect of any price change and calculate the real change in total output. GDP deflator = \(\frac{\text { Nominal GDP}}{\text {Real GDP }}\) * 100 According to the question, GDP deflator = $\frac{\text { Nominal GDP}}{\text {Real GDP }} * 100$ 150 = \(\frac{\text { ₹3300}}{\text {Real GDP }}\) * 100 Real GDP = \(\frac{\text { ₹3300}}{\text {150 }}\) * 100 Real GDP = ₹2200 crores |