Use the following table to answer the next question.YearNominal GDPReal GDPPrice Index15,2004,800--25,500--11235,7505,000--What is the Consumer Price Index in year 1?
A. 105.2
B. 111.5
C. 108.3
D. 109.6
Answer: C
You might also like to view...
The opportunity cost of holding money is the nominal interest rate
Indicate whether the statement is true or false
Which one of the following is not considered a financial intermediary?
A) a pension fund B) an insurance company C) a credit counselor D) a bank
Which of the diagrams illustrate(s) the effect of a decline in the price of personal computers on the market for software?
A. A only.
B. A and D.
C. B only.
D. D only.
Which of the following statements is true?
A. When the forces of supply and demand determine for whom goods are produced in a society, an equitable distribution of income will naturally result. B. An external cost will occur when some of the benefits derived from production of some good or service are enjoyed by a third party. C. One of the roles of the United States' government is to transfer some income from the rich and the middle class to the poor. D. According to most economists' definition of competition, the American economy is very competitive.