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1.assume that nominal gdp for 2012 was $700b with a price index of 110 (using 2004 as the base year). what is the real gdp for 2012?
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1.assume that nominal gdp for 2012 was $700b with a price index of 110 (using 2004 as the base year). what is the real gdp for 2012?

User Amar Syla
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real GDP = nominal GDP / price index

real GDP (2012)= $700 b/ 1.1= $636.36 b

User Ella
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