Suppose that nominal GDP were $1200 billion in 1990 and $2000 billion in 1995. The implicit GDP deflator was 1.00 in 1990 and 1.50 in 1995. From this we can infer that, between 1990 and 1995
A) nominal GDP rose by 33%.
B) prices rose by 66%.
C) real GDP remained constant.
D) real GDP rose by about 11%.
D
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Refer to the above figure. Which of the following points indicates an unobtainable point of production?
A) a B) d C) e D) More information is needed to answer the question.
Markup pricing is the same as
A) internet pricing. B) cost plus pricing. C) peak-load pricing. D) price discrimination.
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
The definition of economic growth is the annual percentage
A. increase in the total nominal GDP. B. increase in the per capita real GDP. C. increase in total exports. D. increase in the per capita nominal GDP.