The GDP of a country's economy in 2020 (base year) is 400 billion yuan. If the GDP deflator in 2021 is 300 and real GDP increases by 30%, what is the nominal GDP in 2021?

The GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and services in an economy. Nominal GDP is the market value of all final goods and services produced in a country in a given period. It can be calculated as:

Nominal GDP = Real GDP * (GDP Deflator / 100)

We are given that the GDP in the base year (2020) is 400 billion yuan, the GDP deflator in 2021 is 300, and real GDP increases by 30% from 2020 to 2021.

First, let's calculate the real GDP in 2021:

Real GDP in 2021 = GDP in 2020 * (1 + growth rate) Real GDP in 2021 = 400 billion yuan * (1 + 0.30) Real GDP in 2021 = 400 billion yuan * 1.30 Real GDP in 2021 = 520 billion yuan

Now, let's calculate the nominal GDP in 2021:

Nominal GDP in 2021 = Real GDP in 2021 * (GDP Deflator in 2021 / 100) Nominal GDP in 2021 = 520 billion yuan * (300 / 100) Nominal GDP in 2021 = 520 billion yuan * 3 Nominal GDP in 2021 = 1560 billion yuan

So, the nominal GDP in 2021 is 1560 billion yuan.

The question is asking for the nominal GDP in 2021.

Nominal GDP can be calculated using the formula:

Nominal GDP = Real GDP * GDP Deflator

First, we need to calculate the real GDP in 2021. Given that real GDP increases by 30% from 2020 to 2021, the real GDP in 2021 is:

Real GDP in 2021 = Real GDP in 2020 * (1 + growth rate) Real GDP in 2021 = 400 billion yuan * (1 + 30%) = 520 billion yuan

Then, we can calculate the nominal GDP in 2021:

Nominal GDP in 2021 = Real GDP in 2021 * GDP Deflator Nominal GDP in 2021 = 520 billion yuan * 300 = 156,000 billion yuan

So, the nominal GDP in 2021 is 156,000 billion yuan.