Suppose that nominal GDP per person is $18,000 in 2004. For 1998 GDP deflator is 100, and the 2004 GDP deflator is 110. The approximate real per person GDP in 2004 is?
- $16,364
- $18,800
- $19,800
- None of these
Explanation
Real GDP per person = Nominal / (Deflator / 100)
= 18,000 / (110 / 100) = 18,000 / 1.10 = $16,363.6
Last verified on 22-04-2026
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