In 2009, the level of U.S. real GDP was close to four times its 1965 level.

Question

Quizplus · Accepted Answer

According to the Bureau of Economic Analysis, the U.S. nominal GDP in 1965 was $685.8 billion and in 2009 it was $14.12 trillion. Adjusted for inflation using the GDP deflator, the real GDP in 1965 was $4.33 trillion and in 2009 it was $14.15 trillion. Therefore, the level of U.S. real GDP in 2009 was slightly higher than three times its 1965 level, not four times.

In 2009, the Level of U