A GDP price index of 130 in year 2 means that ________.

A. prices in year 2 are on average 130% higher than in the base year
B. prices in year 2 are on average 13 times that in the base year
C. nominal GDP is 130% higher than real GDP in year 2
D. prices in year 2 are on average 30% higher than in the base year


Answer: D

Economics

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