Table 7.2GDP for Newland?Nominal GDP(in billions of dollars)GDP deflatorCPI2001$5,900120.1128.320026,300123.0131.720036,800126.3136.5Based on Table 7.2, the real GDP for 2002 was
A. $7,749.0 billion.
B. $8,297.1 billion.
C. $5,122.0 billion.
D. $4,783.6 billion.
Answer: C
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A monopolistically competitive market
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What is the percentage of income received by the lower three quintiles on line J?
?Exhibit 16-4 Macro AD/AS Model
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