Answered: In Lilliput nominal GDP in 2030 is…

In Lilliput nominal GDP in 2030 is $30,000 and the price index (base of 100 in 2020) stands at 150. Find real GDP expressed in 2020 dollars. Type your numeric answer and submit

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter7: Taking The Nation's Economic Pulse

Section: Chapter Questions

Problem 5CQ: Why might even real GDP be a misleading index of changes in output between 1950 and 2015 in the...

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Question

In Lilliput nominal GDP in 2030 is $30,000 and the price index (base of 100 in 2020) stands at 150. Find real GDP
expressed in 2020 dollars.
Type your numeric answer and submit

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