If nomiņal GDP is 10trillion and real GDP is 12trillion then the GDP deflator is: O 120, indicating that the price level has increased by 20% since the base year. O 83.33, indicating that the price level has increased by 83.33% since the base year. O 120, indicating that the price level has decreased by 20% since the base year. O 83.33, indicating that the price level has decreased by 16.67% since the base year.

If nomiņal GDP is 10trillion and real GDP is 12trillion then the GDP deflator is: O 120, indicating that the price level has increased by 20% since the base year. O 83.33, indicating that the price level has increased by 83.33% since the base year. O 120, indicating that the price level has decreased by 20% since the base year. O 83.33, indicating that the price level has decreased by 16.67% since the base year.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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