Nominal GDP is $10,000 billion in 2000, but real GDP is only $9,000.It follows that:
A) the GDP deflator is equal to 111.
B) the GDP deflator is equal to 100.
C) the GDP deflator is equal to 90.
D) prices must have decreased relative to the base year.
Correct Answer:
Verified
Q81: Gross national product is equal to:
A)gross domestic
Q88: If real GDP increased by 2% and
Q93: If real GDP increased by 2% and
Q94: Real GDP is:
A)the base year market value
Q121: This difference between net income of foreigners
Q123: Total income received by households and noncorporate
Q125: Personal income includes:
A)income received in the form
Q128: National income is equal to:
A)GDP minus indirect
Q129: GDP that has been adjusted for changes
Q188: A price index can be constructed by:
A)dividing
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