Question

PLEASE HELP ME ASAP PLEASE!!!
Assume a nation's Nominal GDP is $4.7 trillion
with an inflation rate of 3%. Find its Real GDP.
A. 2.1 Trillion
B. 4.5 Trillion
C. 6.9 Trillion​

Answer 1

Answer:

4.5 Trillion

Explanation:

Answer 2

A nation's real GDP will be "4.5 Trillion".

According to the question,

Nominal GDP,

• $4.7 trillion

GDP deflator,

• (1+0.03)

Now,

→ The Real GDP will be:

= $\frac{Nominal \ GDP}{GDP \ de.}$

By substituting the values, we get

= $\frac{4.7}{1+0.03}$

= $\frac{4.7}{1.03}$

= $4.5 \ Trillion$

Thus the solution above i.e., option B is right.

Learn more about GDP here:

https://brainly.com/question/13715636