Multiple Choice
Nominal personal consumption expenditures in Canada were $172.4 billion in 1980 and rose to $399.3 billion in 1990.The implicit price deflator for personal consumption expenditures is 67 for 1980 and 118.6 for 1990,where 1986 is the base year.Calculate the percent change in real personal consumption expenditures (rounded to the nearest percentage point) in the decade.
A) 31%
B) 61%
C) 114%
D) 133%
Correct Answer:
Verified
Correct Answer:
Verified
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