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Suppose 2010 Is the Base Year

Question 173

Multiple Choice

Suppose 2010 is the base year. From 2010 to 2018, the price index increases from 100 to 102.5. If nominal Gross Domestic Product (GDP) is $2,800 in 2018, then the real Gross Domestic Product (GDP) in 2018 is


A) $2,700.
B) $2,800.
C) $2,732.
D) $2,870.

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