Which of the following formula is correct ? Option 1: Real GDP = Price IndexNominal GDP x 100 Option 2: Real GDP = Nominal GDPPrice Index x 100 Option 3: Nominal GDP = Real GDPPrice Index x 100 Option 4: Nominal GDP = Price IndexReal GDP x 100

The answer is 'Real GDP = Nominal GDPPrice Index x 100'. View full solution:

CUET Economics - Which of the following formula is correct ? | PYQs + Solutions

CUET Economics

Macro

Easy

Real GDP = $\frac{\text{Price Index}}{\text{Nominal GDP}} \times 100$

Real GDP = $\frac{\text{Nominal GDP}}{\text{Price Index}} \times 100$

Nominal GDP = $\frac{\text{Real GDP}}{\text{Price Index}} \times 100$

Nominal GDP = $\frac{\text{Price Index}}{\text{Real GDP}} \times 100$

✅ Correct Option: 2