In a given year, U.S. nominal GDP was $527 billion and the GDP chain price index for that year is 23.3 . Real GDP in 1996 dollars is:
a. $1,228 billion.
b. $2,262 billion.
c. $3,000 billion.
d. $3,262 billion.
b
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According to this Application, ________ developed countries and ________ developing countries have a value-added tax
A) virtually all; many B) most; very few C) very few; very few D) very few; most
What is the midpoint formula for calculating a percentage change?
What will be an ideal response?
In the long run, a monopoly's
a. economic profits are zero b. economic profits are negative c. economic profits are positive d. demand is perfectly inelastic
Will a large quantity of bonds held in the Social Security Trust Fund make it easier to deal with the retirement of the baby boomers?
a. Yes; the federal government will be able to redeem these bonds in the future without raising taxes or increasing its borrowing. b. Yes; the interest on these bonds will provide the federal government with a stream of net revenue in the future. c. Yes, but only if the federal government holds these bonds until they mature. d. No; the federal government cannot redeem the bonds without raising revenues for their redemption from other sources.