Multiple Choice
Scenario: A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The price of each unit of the good in Year 1 was $280 and it was $320 in Year 2. Suppose Year 1 is taken as the base year for the calculation of GDP.
-Refer to the scenario above.The GDP deflator for Year 2 is ________.
A) 114.3
B) 0.14
C) 240
D) 87.5
Correct Answer:
Verified
Correct Answer:
Verified
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