Nominal GDP vs. Real GDP?

Question

Nominal GDP in the United States in 2001 was $10,082.2 billion, and real GDP in 2001 (in 1997 dollars) was $9,214.5 billion. Real GDP in 1997 (in 1997 dollars) was $7,813.2 billion.

a. Calculate the GDP price index in 2001.

b. What was the GDP price index in 1997?

Answer 1

a)

100*(10'082.2 / 9'214.5)= 109.42

b)

=100