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If the Real GDP in 2003 Is $12,400 Billion and the Implicit

Question 34

Multiple Choice

If the real GDP in 2003 is $12,400 billion and the implicit price deflator is 1.4, what is the approximate value of nominal GDP in 2003?

A) $8,860 billion
B) $15,880 billion
C) $12,140 billion
D) $17,360 billion

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