Multiple Choice
Suppose a nation's nominal GDP was $972 billion in 2017 and the general price index was 90 in 2017.To make the value of GDP in 2017 comparable with the value of GDP in the base year, the value of GDP in 2017 must be:
A) adjusted downward to $678 billion.
B) deflated to $896 billion.
C) inflated to $1,080 billion.
D) deflated to $1,080 billion.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: GDP in an economy is $4,600 billion.Consumer
Q2: The before-tax income received by resource suppliers
Q3: Setup Corporation buys $100,000 of sand, rock,
Q4: Which of the following is not an
Q6: By summing the values added at each
Q7: In calculating GDP by the expenditure approach,
Q8: A nation's stock of capital goods will
Q9: An example of a final good in
Q10: Consider the following data for a hypothetical
Q11: A nation's gross domestic product (GDP) by