Question

How to convert nominal GDP into real GDP

Answer 1

Answer:

Here is your answer

Real GDP = Nominal GDP/ Price index*100

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Answer 2

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Real GDP = Nominal GDP/Price index ×. 100

know more :-

GDP stands for Gross Domestic Product.

It is the sum total of all final goods and services produced in a country during a particular year. It shows how big the economy is.

It is the sum of production in all sectors.in india this mammoth task is undertaken by central govt. ministry.

It collects information with the help of various govt. departments of all states and union territories.

GDP = C + I + G + (X – M)

where

• C = private consumption
• I = gross investment
• G = government investment + government spending
• X = exports
• M = imports