If nominal Gross Domestic Product (GDP) in 2013 was $3,000 billion, and the price level index was 330 (1985 = 100) , then real Gross Domestic Product (GDP) in terms of the price level in 2013 was about
A) $105 billion.
B) $4,220 billion.
C) $909 billion.
D) $537 billion.
Correct Answer:
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Q322: Q347: Suppose that in 2011, nominal Gross Domestic Q348: If Gross Domestic Product (GDP) and other Q349: Suppose 2009 is the base year. From Q350: The price-corrected value for Gross Domestic Product Q352: The nominal value of Gross Domestic Product
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