Multiple Choice
If the price index was 100 in 1991 and 120 in 2001,and nominal GDP was $360 billion in 1991 and $480 billion in 2001,then the value of 2001 GDP in terms of 1991 dollars would be
A) $300 billion.
B) $384 billion.
C) $400 billion.
D) $424 billion.
Correct Answer:
Verified
Correct Answer:
Verified
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