Answer the question(s) based on the following data,using year 1 as the base year.All dollars are in billions.
-Refer to the above data.From year 1 to year 4,prices rose by:
A) 4 percent.
B) 8 percent.
C) 10 percent.
D) 12 percent.
Correct Answer:
Verified
Q104: Only three goods are produced in an
Q106: Q106: In comparing GDP data over a period Q107: Assume an economy which is producing only Q110: If nominal GDP rises, Q112: Assume an economy which is producing only Q114: Assume an economy which is producing only Q129: In determining real GDP economists adjust the Q133: Nominal GDP is less than real GDP Q139: The fact that nominal GDP has risen
A) real GDP may
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