If nominal GDP is $10 trillion and real GDP is $8 trillion,the GDP deflator is
A) 80, and this indicates that the price level has decreased by 20 percent since the base year.
B) 80, and this indicates that the price level has increased by 80 percent since the base year.
C) 125, and this indicates that the price level has increased by 25 percent since the base year.
D) 125, and this indicates that the price level has increased by 125 percent since the base year.
Correct Answer:
Verified
Q3: Suppose that over the last twenty-five years
Q93: Which statement represents most correctly the relationship
Q154: Table 23-3 Q156: Table 23-2. The information in the table Q157: Table 23-2. The information in the table Q158: Table 23-2. The information in the table
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