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16 February, 15:03

If real gdp in a particular year is $80 billion and nominal gdp is $240 billion, the gdp price index for that year is:

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  1. 16 February, 15:18
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    The gdp price index for that year is 300.

    This is how we calculate this;

    Gdp price index = 100 x nominal gdp / real gdp

    =100 x 240 / 80

    =24000/80

    Gdp price index = 300
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