Multiple Choice
If real GDP is 5,100 and nominal GDP is 4,900,then the GDP deflator is
A) 104.1 so prices are higher than in the base year.
B) 104.1 so prices are lower than in the base year.
C) 96.1 so prices are higher than in the base year.
D) 96.1 so prices are lower than in the base year.
Correct Answer:
Verified
Correct Answer:
Verified
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