If nominal output is $5.28 trillion and the GDP Deflator is 12 percent higher than the previous year, then?

then real output is:
a) $3.84 trillion

(b) $4 trillion

(c) $4.4 trillion

(d) $4.71 trillion

Answer:
gdp ratio: year / previous year = 1.12

deflator = 1/1.12 = .89 -something

.89 * 5.28 = 4.71

the answer is D
5.28 tr/1.12 = 4.71 trillion so D

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