Multiple Choice
If nominal GDP is $10 trillion and real GDP is $8 trillion,the GDP deflator is
A) 80, and this indicates that the price level has decreased by 20 percent since the base year.
B) 80, and this indicates that the price level has increased by 80 percent since the base year.
C) 125, and this indicates that the price level has increased by 25 percent since the base year.
D) 125, and this indicates that the price level has increased by 125 percent since the base year.
Correct Answer:
Verified
Correct Answer:
Verified
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