Credit Sprint / Practice problems / Real GDP and the GDP deflator

Real GDP and the GDP deflator practice problems

Macroeconomics Unit 2. Try each one, then open the worked solution. The Credit Sprint app generates unlimited new versions with fresh numbers.

Problem 1.

Nominal GDP is $945 billion and the GDP deflator is 105. What is real GDP?

Show solution

$945B ÷ 105 × 100 = $900B.

Problem 2.

Nominal GDP is $2,090 billion and the GDP deflator is 110. What is real GDP?

Show solution

$2,090B ÷ 110 × 100 = $1,900B.

Problem 3.

Nominal GDP is $1,540 billion and the GDP deflator is 110. What is real GDP?

Show solution

$1,540B ÷ 110 × 100 = $1,400B.

Problem 4.

Nominal GDP is $1,600 billion and the GDP deflator is 80. What is real GDP?

Show solution

$1,600B ÷ 80 × 100 = $2,000B.

Problem 5.

Nominal GDP is $640 billion and the GDP deflator is 80. What is real GDP?

Show solution

$640B ÷ 80 × 100 = $800B.

Problem 6.

Nominal GDP is $1,920 billion and the GDP deflator is 120. What is real GDP?

Show solution

$1,920B ÷ 120 × 100 = $1,600B.