Question: Nominal GDP in 1990 was $ 40 , 000 , and in 2000 it was $ 35 , 000 . The GDP deflator was 102

Nominal GDP in 1990 was $ 40 , 000 , and in 2000 it was $ 35 , 000 . The GDP deflator was 102 in 1990, and in 2000 it was 95 . What was real GDP in 1990? Round your answer to the nearest hundredth

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock