If in the year 2030, US gross domestic product is $40 trillion (2030 dollars), and the GDP deflator then is 400 (2020 = 100), then the real 2030 GDP (in 2020 dollars) will be of around $10 Trillion.
In any nation, various goods and services have been provided and produced within the nation.
These goods and services are sometimes referred to as "gross-domestic products," which is the net usage of products within a nation as per the given data. GDP in the year 2030, according to 2020, is around 10 trillion dollars.
After using the following formula, it is easy to find out the GDP:
GDP deflator = Nominal GDP / Real GDP *100
= 400 / 40 * 100
= 1,000
Therefore, the gross domestic product has a huge impact when it comes under the deflator category that is around $10 Trillion.
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