Multiple Choice
Assume that, in the base year (2011) , a country's nominal GDP is $10,000 billion. The country has had 5% inflation each year since 2006. Real GDP of 2011 is equal to:
A) $10,500 billion.
B) $11,025 billion.
C) $10,000 billion.
D) $9,500 billion.
Correct Answer:
Verified
Correct Answer:
Verified
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