Multiple Choice
If the base year for the GDP deflator is 2005 and the value of the deflator during 2011 is 115, this indicates that the general level of prices
A) declined by 15 percent between 2005 and 2011.
B) increased by 15 percent each year during 2005-2011.
C) was approximately 15 percent higher in 2011 than in 2005.
D) was approximately 115 percent higher in 2011 than in 2005.
Correct Answer:
Verified
Correct Answer:
Verified
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