Multiple Choice
Assume nominal GDP is $10,000 trillion in period 1 and $15,000 trillion in period 2.If prices in period 2 are twice as high as in period 1,real GDP in period 2 is
A) $10,000 trillion measured in period 1 prices.
B) $12,500 trillion measured in period 1 prices.
C) $15,000 trillion measured in period 1 prices.
D) $7,500 trillion measured in period 1 prices.
Correct Answer:
Verified
Related Questions
Q46: Q47: The wearing out of plants and equipment Q48: An economy's production possibilities curve indicates Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
A)The rate