Multiple Choice
If the price index is 130,this means that
A) prices are 130% higher than in the base year.
B) prices are 0.13 times higher than in the base year.
C) prices are 30% higher than in the base year.
D) nominal GDP must be inflated to determine the real GDP.
E) prices are 30% lower than in the base year.
Correct Answer:
Verified
Correct Answer:
Verified
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