If in some year nominal GDP was $40 billion and the GDP deflator was 70, what was real GDP?
A) $110.0 billion
B) $175.0 billion
C) $57.1 billion
D) $30.0 billion
Correct Answer:
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Q212: The term economists use to describe a
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Q214: Table 23-2
The following table contains data
Q215: When economists talk about growth in the
Q216: The percentage change in the price level
Q218: The GDP deflator is the ratio of
A)real
Q219: Table 23-3
The following table reports nominal
Q220: Changes in real GDP reflect
A)only changes in
Q221: Table 23-4
The country of Caspir produces only
Q222: GDP per person tells us the income
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