Multiple Choice
In an economy, the total expenditures for a market basket of goods in year 1 (the base year) was $5,000 billion. In year 2, the total expenditure for the same market basket of goods was $5,500 billion. What was the GDP price index for the economy in year 2?
A) 100
B) 110
C) 115
D) 120
Correct Answer:
Verified
Correct Answer:
Verified
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