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In Year 1, Nominal GDP for the United States Was

Question 176

Multiple Choice

In year 1, nominal GDP for the United States was $2,250 billion and in year 2 it was $2,508 billion.The GDP deflator was 72 in year 1 and 79 in year 2.Between year 1 and year 2, real GDP rose by


A) 11.4 percent.
B) 9.7 percent.
C) 2.4 percent.
D) 1.6 percent.

Correct Answer:

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