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Transcript 
HSC Economics Revision Quiz
Real GDP
Start
An economy has nominal GDP of 200 in Year 1, and
250 in Year 2. CPI was 100 in Year 1 and 115 in
Year 2. What is real GDP Year 2?
A
250
B
240
C
217
D
227
An economy has nominal GDP of 200 in Year 1, and
250 in Year 2. CPI was 100 in Year 1 and 115 in
Year 2. What is real GDP Year 2?
C
217
Next question
Inflation = (115 – 100)/ 100 = 15%
Real GDP = 250 / (1.15)
Incorrect.
Try again
An economy has the following information.
2010
2011
Nominal GDP 400
480
Real GDP in 2011 was 440. What was the inflation
rate in 2010/2011?
A
5%
B
6%
C
9%
D
10%
An economy has the following information.
2010
2011
Nominal GDP 400
480
Real GDP in 2011 was 440. What was the inflation
rate in 2010/2011?
C
9%
Next question
Inflation = (480 / 400) – 1
Incorrect.
Try again
An economy has the following information.
2010
2011
Nominal GDP 400
480
Real GDP
410
CPI
100
?
What was the CPI in 2011?
A
115
B
117
C
120
D
121
An economy has the following information.
2010
2011
Nominal GDP 400
480
Real GDP
410
CPI
100
?
What was the CPI in 2011?
B
117
Finish
Inflation = (480 / 410) – 1 = 17%
CPI = 100 x (1.17) = 117
Incorrect.
Try again
HSC Economics Revision Quiz
Real GDP
Restart
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