Question

Find real national income, if nominal National income is rs. 288 and price index is 120.*​

Answer 1

Explanation:

REAL GDP= NOMINAL GDP

PRICE INDEX OF CURRENT YEAR

NOMINAL GDP= RS 1200

PRICE INDEX OF CURRENT YEAR=RS 120

REAL GDP= 1200 ×100

120

ANSWER=RS 1000

GUYS, I HOPE IT IS HELPFUL FOR YOU,IF IT IS HELPFUL FOR YOU THEN PLZ MARK ME AS BRANALIST.

----------THANKYOU

Answer 2

Real national income is $345.6$

Given nominal national income is $Rs 288$

Price index is $120$

Find the real rational income

Solution-Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a specific time period by countries.

Real GDP=$\frac{Nominal GDP}{Price index}\times base year$

$288=\frac{nominal GDP}{120}\times 100$

$\frac{288\times 120}{100}=Nominal GDP$

Real GDP is $345.6$

#SPJ2