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

Economics

You might also like to view...

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

Economics

What is the midpoint formula for calculating a percentage change?

What will be an ideal response?

Economics

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

Economics

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.

Economics