Multiple Choice
Assume that between 1998 and 2008, nominal GDP increased from $7 trillion to $12 trillion and that the price index rose from 100 to 133.3. Which of the following expresses GDP for 2008 in terms of 1998 prices?
A) $7.5 trillion
B) $9.0 trillion
C) $9.5 trillion
D) $16.0 trillion
Correct Answer:
Verified
Correct Answer:
Verified
Q93: Suppose that the consumer price index (CPI)
Q94: If nominal or money GDP increases 6
Q95: Which of the following is the most
Q96: Which one of the following events will
Q97: Explain the two approaches to calculating GDP.
Q99: Which of the following best explains why
Q100: Babe Ruth's 1931 salary was $80,000. Government
Q101: If a local shop buys a used
Q102: When adjusting nominal GDP for price changes,
Q103: The consumer price index (CPI) is designed