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Suppose Nominal GDP Was $360 Billion in 2002 and $450

Question 39

Multiple Choice

Suppose nominal GDP was $360 billion in 2002 and $450 billion in 2012.The appropriate price index was 100 in 2002 and 120 in 2012.It can be concluded that between 2002 and 2012 real GDP:


A) increased by about $15 billion.
B) decreased by about $32 billion.
C) increased by about $90 billion.
D) increased by about $117 billion.

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