Answer:
The implicit price deflator will be 1.10
Explanation:
Nominal GDP = $11 trillion
Real GDP = $10 trillion
Use Implicit price deflator formula
Implicit price deflator = Nominal GDP / Real GDP
Implicit price deflator = $11 trillion / 10 trillion
Implicit price deflator = 1.10
So, The implicit price deflator will be 1.10 when the nominal GDP is $11 trillion and real GDP is $10 trillion .
