Exhibit 11-6Use the table below to answer the following question(s).
Nominal GDP
GDP
Year(billions)
deflator
Year 1 600
100.0
Year 21,000
133.3
Refer to Exhibit 11-6. Between Year 1 and Year 2, the general level of prices increased by approximately:
A. 16.7 percent.
B. 33.3 percent.
C. 66.7 percent.
D. 133.3 percent.
Answer: B
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