Acountry has a gross domestic product (gdp) of $225. if the gdp deflator is 3, what would be the real gdp of the country?

The real GDP of the country is

Solution:

The formula for evaluating the real Gross Domestic product is Nominal Gross Domestic product divided by deflator that is,

where R is Real GDP; N is Nominal GDP; D is Deflator

Given, Nominal GDP =

Deflator = 3

On subtituting the given values in the formula we get,

The real GDP of a country measures the value of its economic activity.  

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